icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Russia to increase export duties on scrap steel exports

Russia to increase export duties on scrap steel exports
The Russian government plans to raise export tariffs for steel scrap to 130 euros per ton. It's a measure to prevent a potential deficit, as domestic steel makers build more plants to run on scrap.

The country currently applies a tax of 15%, or no less than 15 euros per ton. The government source said steel scrap demand in Russia would increase by 10 percent next year, and that growth will continue for the next few years.

Business daily Kommersant quotes experts as saying that the measure could dissatisfy the European Union and complicate negotiations on Russia’s entry to the World Trade Organization.