The Russian government has extended the quota on the export of scrap and ferrous metal waste from the EAEU (Eurasian Economic Union) until June 30, 2024. This has been reported telegram channel Government of the Russian Federation.
The volume of the quota remains the same – 600 thousand tons. When exporting scrap and ferrous metal waste within the quota, the tax will be 5% per tonne, but not less than 15 euros per tonne, beyond that – 5% but not less than 290 € per tonne.
The government calls the purpose of this measure the provision of strategic raw materials to domestic metallurgical enterprises and support the implementation of large infrastructure projects, as well as maintaining affordable prices in the domestic market.
Ferrous metals include iron and its alloys, as well as manganese, chromium and vanadium.
23 November Russia introduced 600 thousand tons of scrap export quota. Such a quota was introduced for the first time at the end of May 2022.
Previously FCS reported on tax collections on flexible export taxes.