Ukraine to determine scrap reserves in the country

Ukraine to determine scrap reserves in the country

At the request of the Ukrainian Government a research group will be set up to figure out the country's scrap reserve levels within five days to enable the Kahrkiv State Economic Research Institute to determine the exact volume of scrap from buildings and machinery thereafter. Following the introduction of €30/mt export duty by the beginning of 2003, the scrap exports from Ukraine to international markets have shown a serious decrease. The annual scrap requirement of the local mills in Ukraine is forecast to be 7.3 million tons. There are reports in the industry pointing out to a recovery of local supply, however the scrap collection in the first quarter of the year is comparatively down from last year same period quantities. In order to identify the source of the supply problems, the industrial policy ministry will determine the scrap reserve situation in Ukraine and study to develop possible ways to improve current situation.