Russia plans to extend tariff quota on ferrous scrap
Time:Thu, 08 Dec 2022 06:49:15 +0800
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Russia planned to extend the tariff quota on exports of scrap and waste of ferrous metals outside the territory of Russia to states that are not members of the Eurasian Economic Union (EAEU) until June 30, 2023.
The quota would be reduced to 600,000 tons from 1.35 million tons, valid until the end of 2022. The export duty rate for export volume within the quota would remain at 5%, but not less than EUR 5 per ton. If the volume is above the quota, the duty rate would be 5%, but not less than EUR 290 per ton.
Some market participants are worried that the extension of Russian scrap export quotas and the EU’s revised waste shipment regulation (WSR) overlap the South African six-month scrap export ban from November 30, 2022, which is likely to lead to a tighter global scrap supply.
