Russia’s export ban on scrap effectively restrains exports in Jan

According to statistics, Russia’s scrap exports to regions outside the Eurasian Economic Union (EAEU) totaled only 2,964 tons in January, plummeting by 99.6% compared to the same month a year ago. The sharp decrease was due to Russia’s EUR 100/ton tariffs imposed on scrap exports from this January, which will last six months.

Since the beginning of 2021, Russia has raised export tariffs on scrap three times. The duty rate was raised to EUR 45/ton in January 2021, to EUR 70/ton in August 2021, and to EUR 100/ton this January.

Russia’s scrap association expected that only premium and stainless steel scrap will be continued for exporting, and the exports of carbon steel scrap will drop by 70% this year.