According to the report, the Russian Ministry of Industry and Energy proposed to extend export duties on scrap from August 1, 2022 until the end of the year. At the end of May, the Russian government extended this export tariff until 31 July.
The ministry has previously said it does not plan to introduce new export tariffs on metals as it did last year, but export tariffs on scrap will remain in place.
Scrap tariffs are aimed at supplying more raw materials at a time when Russian steelmakers are facing pressure from sanctions, fluctuations in the ruble exchange rate and fluctuations in the cost of raw materials in foreign markets.
Russia to extend duties on scrap metal exports until the end of 2022
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