Ukraine to lower scrap export duties after WTO accession

The Ukrainian Parliament –Verkhovna Rada- has accepted a bill prepared by the Ministry of Economy entitled “Including Changes in the Law on Export Duty on Waste and Scrap of Ferrous Metals”. According to the bill, Ukraine will gradually decrease its scrap export duty from the current €30/mt to €10/mt over the six-year period starting from the year of the country's accession to the World Trade Organization (WTO). Ukraine had introduced a €30 scrap export duty in 2003 on the request of the local steel mills. The move was aimed at redirecting scrap flow from exports to the domestic market.