Ukraine may extend export duty on scrap for two more years

The Ukrainian parliament has introduced a bill to extend the export duty on scrap for another two years, according to media reports. The export duty on scrap stands at €30/mt and is valid until September this year. 

In September 2016, Ukrainian president Petro Poroshenko approved the bill to increase export duties on scrap from €10/mt to €30/mt for one year, after vetoing the first draft law which suggested increasing the duty for three years. After the new bill passes through parliament, presidential approval will again  be required for it to take effect.

According to the data released by the State Fiscal Service of Ukraine, in the fourth quarter of 2016 Ukraine exported approximately 39,000 mt of scrap, while in the January-February period of the current year the country’s scrap exports totaled 17,782 mt.