Since the imposition of a tax on steel exports led to a decrease in domestic steel prices, the competent Russian authority said that the tax increase would not be extended until 2022.
Russia introduced a 15% duty on the export of ferrous and basic non-ferrous metals from August 1 to December 31. The export duty hike aimed to lower steel prices and curb inflation, and the result has been excellent.
As the market cools, there is no reason to extend export duties on metals until 2022.
Russian duty on steel export will not be extended until 2022
There are no comments yet.