Russian Government has extended the tariff rate quota for iron and steel scrap and waste exports outside of the Eurasian Economic Union until 30 June 2024. This decision is part of the Government’s consistent export control policy for metals used in manufactured goods.
Under the new resolution, the quota for iron and steel scrap and waste exports at 600,000 tonnes. Within this quota, the export duty is set at 5 percent or at least 15 euros per tonne. For exports above the established quota, the duty will be 5 percent or 290 euros per tonne, whichever is greater.
This decision aims to ensure that Russian metals companies have the raw materials they need.
In 2021 and 2023, against the backdrop of rising metals prices on the global markets, the Government enacted temporary export duties on ferrous and non-ferrous metals, which helped protect the domestic market from external shocks and stabilise commodity prices, while ensuring the continuation of major infrastructure projects.
Source – The Russian Government: http://government.ru/en/docs/50499/