Tel : 0086-0371-86172891
Tel : 0086-0371-86172891
ANSWER : It is reported that on the evening of September 21st, the Russian government released a statement on its official website, implementing flexible export tariffs on various commodities from October 1, 2023 to the end of 2024. The export tax on steel product is inversely proportional to the exchange rate. The highest tax rate applicable to the ruble against the US dollar is 7% when it falls below 95, and 0 when it rises above 80. The export tax is borne by the seller.
The imposition of export taxes on Russian steel slabs has increased export resistance, coupled with fierce competition in the slab export market. Currently, steel slab prices are falling instead of rising.
In terms of quotation, according to tracking, on October 10th, some low-priced resources were quoted at approximately $430-450/ton FOB, while conventional resources were quoted at approximately $460-470/ton FOB.
According to evaluation, on October 11, 2023, the price of SAE1006 steel slab exported by the Commonwealth of Independent States was $445/ton FOB Black Sea, which was lowered by $5/ton. According to the latest export tax calculation method, the ruble is 97.75 against the US dollar on that day, and the export tax should be 7%. The supplier also needs to bear the cost of 31 US dollars per ton. At present, the export market of Russian steel slabs is quiet, and most buyers have been mainly on the sidelines recently.
