The Russian Ministry of Industry and Trade has proposed to extend quotas on the exports of ferrous scrap and waste metals to destinations outside the customs territory of the Eurasian Economic Union (EAEU), which includes Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia, until December 31, 2025, according to local media reports. In July this year, the quotas were extended until the end of this year.
Accordingly, it is proposed that the scrap quota volume for exports will be 550,000 mt, and the duty rate for the volumes exported as per the quota will remain at five percent, but not less than €15/mt. Once the quota volume is exceeded, duty will also remain unchanged at five percent, but not less than €290/mt.
Tariff quotas have been in force since June 2022 to prevent local prices from rising and to protect domestics steel producers.