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MOSCOW, December 23 The Russian government announced that it has extended the quota for the export of scrap and ferrous metal waste until July 2024, it will amount to 600 thousand tons.
«The government, as part of a consistent policy to regulate the export from the country of metal necessary for the production of industrial products, has decided to extend the tariff quota for the export of scrap and ferrous metal waste outside the Eurasian Economic Union (EAEU). It will be valid until June 30, 2024 «, — says the message of the Cabinet of Ministers of the Russian Federation.
«According to the new resolution, the quota will be 600 thousand tons,» it is noted there.
The government message explains that when exporting scrap and ferrous metal waste within the quota, the duty will be 5%, but not less than 15 euros per ton, beyond this — 5%, but not less than 290 euros per ton. It is also noted that the decision taken is aimed at providing domestic enterprises in the metallurgical industry with strategic raw materials.
Earlier, at the end of November, the customs subcommittee approved a quota for the export of scrap from the Russian Federation for the period from January 1 to June 30, 2024 in the amount of 600 thousand tons.< br />In 2021-2023, the Russian government introduced temporary export duties on ferrous and non-ferrous metals against the backdrop of rising world prices for these products. This made it possible to mitigate the impact of external conditions on the situation in the domestic market, adjust prices for raw materials, and ensure the continuation of the implementation of large infrastructure projects.
Also this year, from November, the Cabinet of Ministers introduced a temporary ban for six months on the export of waste and scrap precious metals from the country for increasing the workload of domestic refineries and increasing tax revenues.