Ukraine raises export duty on ferrous scrap to EUR 180/ton
6 Dec 2021 16:24 reported by Joy Liu
Ukraine has decided to raise the export duty on ferrous scrap from the current EUR 58/ton to EUR 180/ton. The new duty will be effective in early 2022. The government will spend around one month to enact the parliament’s decision.
Ukrainian steelmakers' association Ukrmetallurgprom express its concerns on soaring scrap exports in mid-2021 and asked Ukraines’ Deputy Prime Minister Denys Shmyhal to implement a temporary ban on ferrous scrap exports for the period from 2022 to 2023.
Market players thought that Ukraine’s current export duty has failed to restrict scrap exports as this duty only accounted for 10% of market prices.
In the first ten months of this year, Ukraine’s scrap exports totaled 515,000 tons, surging by nearly 16 times compared to the same period a year ago.
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