The Russian government has approved to increase the customs duty on ferrous scrap exports from 70 Euros/tonne to 100 Euros/tonne.
The tax will be valid for 180 days from 1 June'22.
The decision is expected to reduce the impact of external conditions on the domestic market, adjust prices and secure the supply of raw materials for domestic producers.
Russia exported approximately 4.5 million tons of ferrous scrap in CY'20.
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