The Russian Electrometallurgical Association has demanded that the government reduce export duties on semi-finished products and steel materials from scrap steel in order to restore the minimum profitability of electric furnaces.
Starting from the beginning of August this year, Russian exports of semi-finished products and most of the rolled products, be it iron ore or scrap steel, require a 15% export duty (minimum USD 115 per tonne).
The association said it was unfair to apply the same tax rate to products from both blast furnaces and electric furnaces. The profitability of sales of electric steel plants is 50-66% lower than that of blast furnace steel plants using their own raw materials.
There was a large gap between production costs in long and fine-melted steel mills, and the introduction of the same tax rate was very disadvantageous for electric steel mills.
Electrotechnical plants in Russia demand a reduction in export duties
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Azovpromstal® 2 September 2021 г. 11:49 |
