The Russian government has announced that it had extended scrap export quotas for another six months, from July 1 to December 31, 2023.
A Russian manufacturer said: “This measure is a way to prevent an excessive increase in domestic prices for long steel products.”
The quota for scrap exported outside the Eurasian Economic Union (EEU) will remain at 600,000 tonnes, and the duty rate for quantities exceeding it will stay at 5%, not less than 15 EUR/tonne.
As in previous periods, the Ministry of Industry and Trade of Russia will distribute the quota size among exporters and issue one-time export licenses in the allocated tonnages framework.
