According to Decree No. 1833 signed by Russian Prime Minister Mikhail Mishustin on October 27, the export duty on aluminum alloys was adjusted to zero, which was imposed with a 15% rate this August 1 so as not to affect the Russian domestic market amid rising metal prices in the global market.

Meanwhile, the export duty on ferrosilicon was reduced from 15% to 5%.

The involved aluminum alloys are classified under HS codes 7601 20 200 9, 7601 20 800 2, and 7601 20 800 9, and ferrosilicon is under HS codes 7202 21 000 0 and 7202 29 900 0.

The policy will become effective 30 days after the publication of the decree, valid on November 26, applicable to contracts signed after October 18.

Mikhail Mishustin said in a statement that the decision to adjust export tariffs was in response to the requirements of industry representatives and changes in the international market.