Tel :
Tel :
Several Russian steel companies are discussing proposing to the government that an excise tax be imposed on steel imported into Russia, including various types of finished steel coils. B23G110 oriented electrical steel, According to the Russian news agency Interfax, the steel companies hope this will create a level playing field for domestic producers and overseas suppliers.
An executive from a large metallurgical holding company stated: "Since the government has already imposed a consumption tax on domestic steel companies, it is fair and reasonable to ensure that all market participants operate under the same competitive conditions. Otherwise, domestic companies will be forced to raise prices or reduce profits due to increased tax burdens." The executive suggested that the consumption tax on imported steel could be calculated based on the current Russian tax rate for the imported goods.
Another source from a steel company said that they have not yet formally submitted an application to the Ministry of Industry and Trade, and the industry is still studying various options. He mentioned that imposing an excise tax on imported steel is uncertain, and raising import tariffs is a more feasible option.
The Ministry of Industry and Trade told Interfax that it will study the initiative together with the industry, but has not yet received a formal proposal.
According to Severstal's estimates, imports accounted for 9.6% of the Russian steel market in the third quarter of 2025, up from 7.6% at the beginning of the year and 6.3% in the first quarter of 2024. B23G110 oriented electrical steel, This increase in import share coincides with a decline in domestic steel demand in Russia, which the Russian Steel Association expects to fall by 14% year-on-year this year.
Alexey Mordashov, the controlling shareholder of Severstal, previously emphasized that the strengthening ruble exchange rate weakens the competitiveness of Russian steel companies and further highlights the need to protect the domestic market.
In its October research report, investment firm T-Investments noted that hot-rolled coil imports increased by 50% year-on-year in August 2025, reaching approximately 96,000 tons. B23G110 oriented electrical steel, Imported steel accounted for 11% of consumption (the highest level since 2022). In September 2025, hot-rolled coil imports increased by 30% year-on-year, reaching approximately 95,000 tons.
The Russian government has decided to uniformly extend the deadline for paying steel consumption tax and iron ore mineral extraction tax (MET) to December 1, 2025. This policy applies to taxes due from September to November of this year and aims to alleviate cash flow pressure on steel companies.
