Russia prepares to limit scrap exports

Monday, 17 June 2019 17:24:16 (GMT+3)   |   Istanbul
       

According to the official gazette of the Federal Assembly of the Russian Federation, Russian deputy prime minister Dmitry Kozak has asked the Federal Antimonopoly Service, the Ministry of Industry and Trade, the Ministry of Economic Development and the Ministry of Finance to prepare a draft decree restricting the export of ferrous and non-ferrous scrap until September 1, 2019, with the export restrictions expected to come into force on January 1, 2020.

Meanwhile, for steel scrap exports, a quota is planned to be established for six months, from July 1 to December 31 of the current year, and this quota will be distributed among exporters based on different coefficient factors for each region of Russia. The lowest coefficients are reportedly to be applied to the Far East and Southern regions, as these regions are facing the most severe scrap shortage.

The quotas will be determined based on the scrap export volumes between January 1, 2016 and December 31, 2018.


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