Ukraine to extend export duty on ferrous scrap

Wednesday, 28 April 2021 16:51:42 (GMT+3)   |   Istanbul
       

The Ukrainian government has decided to extend the duty on the export of ferrous scrap for the next five years.

Accordingly, on April 27 the Ukrainian parliament welcomed and expressed its full support for a five-year extension of the duty on the export of ferrous scrap at the current level, namely at €58/mt.

“Before the launch of the duty in 2016, Ukrainian steel mills were sorely lacking scrap; they could be idle for 40-50 days per year. The reason was in exports of significant volumes of collected raw materials to Turkey and Transnistria. This affected not only volumes of steel production, but also revenues to the state and local budgets, and the salaries of thousands of people working both in metallurgy itself and in related industries. In 2020, Ukraine did not face any obstacles with scrap supply, which may be a good proof of the high efficiency of the export duty,” Dmitry Kisilevsky, deputy chairman of the Ukrainian parliament's economic development committee stated.


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