Russia’s Ministry of Economic Development has proposed to extend quotas on scrap exports outside of the Eurasian Economic Union (EAEU) until July 2024, according to local media reports.
It is proposed that the scrap quota volume for exports will remain at 600,000 mt and the duty rate for the volumes exceeding the quota will remain at five percent, but not less than €15/mt.
According to the proposal, 80 percent of the quota volume will be distributed among companies in foreign trade activities, while the remaining 20 percent volume will be distributed among companies that supply scrap to system-critical organizations or Russian steel enterprises.
In July this year, Russia extended the quota for scrap exports until December 31, 2023, as SteelOrbis previously reported.