Ukraine to remove export restriction on alloy & stainless scrap

The Ukrainian Ministry of Economy has proposed to remove the restriction on exports of alloy and stainless steel scrap (and also on semi-finished steel products made from them) and to replace it with export duty as a part of the country's accession process to the World Trade Organization (WTO). The ministry has prepared a draft bill titled “Removing export restrictions on alloy ferrous and non-ferrous metals scrap and semi-finished steel products made from them”, the acceptance of which it hopes will speed up Ukrainian accession to the WTO. According to the document, the Ministry of Economy proposes to remove export restrictions and replace them with export duties of 30 percent. Furthermore, the export duties are to be gradually decreased from 30 percent to 15 percent within the 5-year period after Ukraine's accession to the WTO.