Russian Deputy Minister of Industry and Trade Viktor Evtukhov said that if domestic steel prices continue to rise, Russia may consider raising its ferrous scrap export duties to EUR 100/tonne and extending some steel export tariffs until next year.
The increased export tariffs will not only reduce domestic sales prices, but will also bring a budget of 45 billion rubles in three months, which will support industries with high steel demand, especially the construction industry.
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