The drop in Russia’s scrap exports was mainly due to higher scrap export duties. The country raised its scrap export duty to €45/ton in January 2021, to €70/ton in August 2021, and further to €100/ton at the end of November, starting in 2022.
In addition, some market participants said that drops in exports were caused by the tight domestic supply due to disrupted rail logistics and lower willingness of suppliers to sell due to Russian steelmakers’ inconsistent pricing policies and the authorities’ restrictions.
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