Russia has extended the tariff quota for the export of ferrous scrap and waste outside the Eurasian Economic Union. The new quota will be 550 thousand tonnes, valid from 1 July to 31 December 2024.
According to the decree, the duty on exports within the quota will be 5%, but not less than EUR 15 per tonne. If the quota is exceeded, the tax will increase to 5%, but not less than EUR 290 per tonne.
This decision is aimed at providing domestic metallurgical enterprises with strategic raw materials. In 2021-2024, the government introduced temporary export duties on ferrous steel and non-ferrous metals in response to rising world prices, which helped to reduce the impact of external factors on the domestic market, adjust raw material prices and support the implementation of large infrastructure projects.
The decision was signed by the Russian Government and will be published shortly.
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