EU decides to cut 30 percent of Ukrainian quotas
In direct consequence of Ukraine, slapping 30% or € 30/ton duties, whichever is higher, on scrap exports, with the purpose of protecting the Ukrainian mills that are suffering very low levels of stocks of the material, EU member states agreed the other day to a cut of 30% in the Ukrainian import quotas. This is commented to be a reduction from the already low 2001 quota levels. EU is aiming to leave Ukraine under pressure so that the nation revokes the recently implemented duty on scrap exports.