Russia increased its export tax; Effective January 1st!

MetKim General Manager Osman Türeyyen, who spoke at the 'Söz Sizde Çelik Talks' organized by the Steel Foreign Trade Association, shared the instant update from the live broadcast with the participants while evaluating the sector. According to the last minute information, the Ministry of Industry and Trade of Russia has increased the minimum level of scrap export tax to €100 per ton. He said that the current tax, which was €70 per ton, expired at the end of the year, increasing by around €30. The new tariff will come into effect on January 1, 2022.

Officials of the Ministry of Commerce of Russia; At the previous meeting, scrap collectors had expressed their doubts about the effectiveness of protecting the tax, citing other factors in the increase in local scrap prices.