Ukraine parliament majority voted for 30 percent scrap duty
Ukrainian parliament gathered required majority yesterday in order to make the 30% duty law. This situation makes President Kuchma's last week's suggestion of imposing lower duties of €18 per ton with the concern of avoiding any quota problems that may arise with the EU, invalid. Eurofer, the European steel producers association, was asking to cut the quotas for Ukraine finished steel down to zero, if such duty was imposed on scrap exports. The duty of 30% or €30/mt, whichever is higher, will come into force from January 1, 2003. This attempt is aiming to protect the Ukrainian steel mills that are experiencing availability problems and lo levels of feedstock, due to the decreasing scrap collection in the country.