Russia attempts to extend the export tariff quota period for scrap steel until June next year

It is reported that relevant departments in Russia are currently attempting to extend the tariff quota period for exporting scrap steel and ferrous metal waste to countries outside the Eurasian Economic Union until June 30, 2024. The draft resolution was formulated by the Russian Ministry of Economic Development, proposing to maintain the quota at 600000 tons per year and published on the website (regulation. gov.ru). DX52D+ZM steel

According to the draft, 80% of the tariff quota will be allocated to participants based on export data from January 1 to December 15, 2023 (inclusive) multiplied by established coefficients for each region, and the remaining 20% will be allocated to companies supplying scrap steel and ferrous metal waste to Russian DX52D+ZM steel enterprises between July 1 and December 31, 2023. The Russian Scrap Metal Association stated that in August, the export volume of black metal waste from Russia to Belarus reached 112300 tons, a year-on-year increase of 17% and a month on month increase of 9.3%. In the first eight months of this year, the export volume of black metal waste from Russia to Belarus doubled year-on-year, reaching 766900 tons. In the first half of the year, Russia's collection of scrap steel reached 11.2 million tons, a year-on-year increase of 6%; The consumption of scrap steel remained unchanged year-on-year, at 10.2 million tons. The Russian Scrap Metal Association stated that the domestic scrap steel recycling market in Russia is stabilizing. In addition, Kazakhstan has recently been attempting to extend the ban on the export of black metal and non-ferrous metal waste for an additional six months from November 7th. According to the latest statistics, the country only exported 25000 tons of scrap DX52D+ZM steel in the first eight months of this year, compared to 125000 tons in 2021 and 1 million tons in 2019.