In pursuance of its consistent policy to regulate the export of metals needed for the manufacture of industrial products, RF Government made a decision to expand the tariff quota for export of ferrous metal scrap and waste outside the Eurasian Economic Union (EEU), according to RF Government’s statement.
The quota will be valid until the end of 2022.
According to the new decision, it will be 1,350 thousand tonnes. Export tax is for a quota volume is 5% per tonne, but not less than EUR 100 per tonne, above quota volume – 5%, but not less than EUR 290 per tonne.
The newly made decision is aimed at providing strategic raw materials to domestic enterprises of the metallurgical industry amid the pressure of sanctions from unfriendly countries, reads the document.
In 2021, the Government introduced temporary export duties on ferrous and non-ferrous metals in the face of growing global prices for these commodities. This made it possible to mitigate the impact of the external factors on the domestic market situation, adjust metal product prices, and continue the implementation of major infrastructure projects.