Prices
November 24, 2023
Russia extends scrap export restrictions, and ‘mulls duty-free bauxite imports’
Quotas on shipments of ferrous scrap metal from Russia will continue to 30 June next year, the country’s subcommittee for customs tariff and non-tariff regulation has decided.
“The extension of current measures will help support prices and supply domestic companies in the metallurgical sector with a strategic raw material,” Interfax news agency quoted the government as saying.
The total permitted volume will remain at 600,000 t, as will the export duty at 5% with a minimum charge of €15 /t.
The tariff on exports after the quota has been allocated will be unchanged at 5%, but with a minimum charge of €290 /t.
Meanwhile, the Russian government is reportedly considering abolishing or reducing the 5% import duty on bauxite to benefit domestic aluminium producer Rusal’s proposed alumina refinery in Ust-Luga.
The country does not currently import bauxites as it covers existing alumina plants’ needs from its own deposits. But their potential is limited, and UC Rusal plans to import up to 5 Mt/y of bauxite from Guinea for its planned refinery, sector newspaper Metals Daily News in Ukraine reported.
