According to the report, the Russian Federation Ministry of Industry and Energy has proposed to extend export tariffs on scrap from August 1, 2022, to the end of the year. At the end of May, the Russian government extended this export tariff until July 31.
The ministry said earlier that it didn't plan to impose new export tariffs on metals as last year, but scrap export tariffs would remain in place.
The scrap tariffs are aimed at supplying more raw materials when Russian steelmakers face sanctions pressure, Ruble fluctuations, and fluctuations in the cost of raw materials in foreign markets.
Source: YIEH
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