Russia Introduces Quotas for Ferrous Scrap Export

The Government of the Russian Federation from June 1 to July 31 introduces tariff quotas for the export of scrap and waste of ferrous metals. This was announced by the press service of the Cabinet of Ministers on Monday, May 30, 2022. 

Picture: VTM

In 2021, the Cabinet of Ministers of Russia, against the background of rising world prices for ferrous and non-ferrous metals, introduced temporary export duties on them. This made it possible to mitigate the impact of the external conjuncture on the situation on the domestic market, adjust prices for metal products, and ensure the continuation of the implementation of major infrastructure projects.

In mid-May 2022, the government approved a permissive procedure for the export of untreated lead, as well as its scrap and waste, which will be valid until November 15 of this year.

“The government continues to pursue a consistent policy on the issue of regulating the export of metal from the country, necessary for the production of industrial products. The new decree introduces tariff quotas for the export of scrap and waste of ferrous metals from June 1,” the report says.

The government clarified that when exporting metal in the amount of up to 540 thousand tonnes, the duty will be €100 per tonne. If this indicator is exceeded, it is €290 per tonne.

“The decision taken is aimed at preventing price increases in the domestic market and ensuring the needs for raw materials of domestic metallurgical enterprises,” the government’s press service noted.

Special emphasis is placed on the fact that the established volume of the tariff quota (up to 540 thousand tonnes) is differentiated by regions, taking into account their industrial specifics. At the same time, the duties will apply only to exports outside the Eurasian Economic Union (EAEU).

Ru-Main, 30.05.2022
Source: TASS 

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