Russia’s Ministry of Industry and Trade has announced that it will extend quotas on scrap exports, which will expire on December 31, for another six months, from January 1, 2024 until June 30, 2024 to maintain prices and raw material flow to the domestic steel producers.
The scrap export quota volume will remain unchanged at 600,000 mt and duty remains at five percent within the quota, but not less than €15/mt. When the quota volume is exceeded, duty will also remain unchanged at five percent, but not less than €290/mt.
In November, the country’s Ministry of Economic Development proposed to extend quotas on scrap exports until July 2024, as SteelOrbis previously reported.
