The Russian government has announced that it has extended quotas on scrap exports for another six months, from July 1 until December 31, 2023.
“We need this scrap inside the country, and this measure is a leverage to prevent the excessive increase of domestic prices for long steel products,” a Russian mill told SteelOrbis.
The scrap quota volume for exports outside of the Eurasian Economic Union (EEU) will remain at 600,000 mt and for volumes exported as per the quota, a duty of five percent will be charged but not less than €15/mt. According to the change made in January this year, the duty rate on volumes exceeding the quota had been not less than €5/mt compared to not less than €100/mt previously, as SteelOrbis reported at the time.
Similar to the previous periods, Russia’s Ministry of Industry and Trade will distribute the volume of the quota between the exporters and will conduct the issuance of one-time valid export licenses in frames of the assigned tonnages.
