Ukraine raises export duty on ferrous scrap from EUR 58/ton to EUR 180/ton

Ukraine has decided to raise the export duty on ferrous scrap from EUR 58/ton to EUR 180/ton. The new duty will be effective in early 2022. The government will spend around one month to enact the parliament’s decision.

Ukrainian steelmakers’ association Ukrmetallurgprom expressed its concerns on soaring scrapexports in mid-2021 and asked Ukraine’s Deputy Prime Minister Denys Shmyhal to implement a temporary ban on ferrous scrap exports for the period from 2022 to 2023.

Market players thought that Ukraine’s current export duty has failed to restrict scrap exports as this duty only accounted for 10% of market prices.

In the first ten months of this year, Ukraine’s scrap exports totalled 515,000 tons, surging by nearly 16 times compared to the same period a year ago.

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Arab Iron and Steel Union ( AISU ) was established in Algeria in 1971 as the first Arab union of Arab countries to be established under the umbrella of the Council of Economic Unity in the League of Arab States.

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