Scrap exports decreased by nearly ten times after export restrictions in the form of higher duties and quotas were implemented.
The market for ferrous scrap metal plummeted by 30% in 2022, with a significant contribution from reduced consumption by factories and export tariffs leading to a 9-fold drop in exports outside the EAEU. As of October 2023, the domestic market is recovering and surpassing the 2022 level but still significantly below the 2021 figures.
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