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Russia has extended the quota for the export of scrap and ferrous metal waste

The Russian government, as part of a consistent policy to regulate the export from the country of metal necessary for the production of industrial products, decided to extend the tariff quota for the export of scrap and ferrous metal waste outside the Eurasian Economic Union. It will be valid until June 30, 2024.

Russia has extended the quota for the export of scrap and ferrous metal waste

According to the new resolution, it will be 600 thousand tons. When exporting scrap and ferrous metal waste within the quota, the duty will be 5%, but not less than 15 euros per ton, above this 5%, but not less than 290 euros per ton.

The decision taken is aimed at providing domestic enterprises in the metallurgical industry with strategic raw materials.

In 2021–2023, the Government introduced temporary export duties on ferrous and non-ferrous metals against the backdrop of rising world prices for these products. This made it possible to mitigate the impact of external conditions on the situation in the domestic market, adjust prices for raw materials, and ensure the continuation of the implementation of large infrastructure projects.

In 2021–2023, the government introduced temporary export duties on ferrous and non-ferrous metals against the backdrop of rising world prices for these products, which allowed:
• mitigate the impact of external conditions on the situation in the domestic market,
• adjust prices for raw materials,
• ensure the continuation of the implementation of major infrastructure projects.

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