Russia planned to implement scrap export quotas in the Eurasian Economic Union (EAEU) from July 1st. With the restriction from the quota system, Russian scrap exports were predicted to drop by 20% to the annual exports of around 4 million tons.
The quota amount allocated to the Russian regions was expected to be confirmed by June 25th, based on the export volume of the region from 2016 to 2018 and adjusted according to the shortage or surplus situation in these regions, subject to the coefficient of 0.5-1.5.
The preliminary coefficient for Kaliningrad, Murmansk, Magadan, Kamchatka, Chukotka and Krasnoyarsk Krai regions was set at 1, Sakhalin was 1.2, and Arkhangelsk received 1.5. Other regions in Northwest Russia got a 0.8 coefficient, the Far East and Southern Russian regions were set with 0.5, and the coefficient for all other Russian regions was 0.75.
Source from Yieh Corp |
