Ukraine increases scrap export duty to €30/mt

Friday, 22 April 2016 12:25:31 (GMT+3)   |   Istanbul
       

The Ukrainian parliament has announced that it held a second vote to increase the export duty on scrap, including stainless scrap, from €10/mt to €30/mt for three years. The parliament voted in favor of the higher scrap export duty to solve the critical deficit of the raw materials at Ukrainian steel plants. The decision is still subject to approval by the country’s president. The original proposal was to increase the current duty to €35/mt.
 
Sources have told SteelOrbis that Ukraine’s scrap export quota of 1.1 million mt set for the current year has been cancelled so that the exporters will not need to apply for quotas before exporting scrap. However, it is not certain whether the €30/mt export duty will apply to the 448,000 mt of scrap for which export permits have already been granted.


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