Posted on 05 Dec 2022
Russia’s government tabled a proposal to keep the quota for the export of ferrous scrap for another six months, until 30 June. Exports within the Eurasian Economic Union (EAEU) will remain quota free, the official note following the working group completion on 2 December states.
The proposed quota is for 600,000 tonnes, with 5% but not less than €5/t ($5.26/t) within the quota limit, and no less than €290/t outside of it. Exports outside of EAEU will be permitted only through certain designated border crossings, Kallanish understands.
The measure is aimed at providing Russian steelmakers with sufficient volumes of the strategic feedstock, at economically viable prices, at a difficult time when producers are faced with sanctions, the Russian government says.
Source:Kallanish
