Russia reported to be considering restricting scrap exports

Tuesday, 11 June 2019 16:48:24 (GMT+3)   |   Istanbul

Russia’s Ministry of Industry and Trade is preparing to propose quotas on steel scrap exports from certain regions, according to media reports.

Russia is reportedly considering introducing quotas on steel scrap exports in the Northwestern, Southern, and Far Eastern Federal Districts of Russia for a period of six months starting from July 1.

With the export restrictions, Russia would aim to ensure sufficient domestic scrap supply to meet domestic steelmakers’ needs.

As SteelOrbis previously reported, in February this year Russia’s Pipe Industry Development Foundation (FRTP) had proposed a ban on scrap exports starting from May 1, 2019, for six months, while the Ministry of Economy had said that it would examine the situation, though no timeframe was set.

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