Export duty on Russian scrap may be reduced from 2013

Russia's export duty on steel scrap will decrease to 12.5 percent upon the official entrance of Russia to the World Trade Organization (WTO) on August 20, 2013, as reported by Ruslom.ru, a scrap information service for the CIS region, citing an unnamed source at the European Commission. According to the information, Russia's export duty on scrap will be reduced on August 20 of each year, finally reaching five percent on August 20, 2016. There has not yet been any official statement from the Russian authorities confirming this information.