Russia may ban scrap exports

Russia is discussing a possible temporary ban on scrap exports, according to the Russian Ministry of Industry and Trade. The final decision will be announced following a 15-day discussion period which is scheduled to end on March 5.
 
If the temporary ban on scrap exports is approved, it will be valid as of April 1, 2015. However, the anticipated duration of the temporary ban has not been disclosed yet.
 
The ministry said that the introduction of a temporary ban on scrap exports from Russia aims to prevent a critical shortage of goods and price growth in the domestic market. The discussions were initiated due to the rise in scrap prices in the Russian domestic market.