Russia is trying to extend the export tariff quota period for scrap steel until June next year

The Russian government is currently trying to extend the tariff quota period for the export of scrap steel and ferrous metal to countries outside the Eurasian Economic Union until June 30, 2024. The draft resolution, prepared by the Russian Ministry of Economic Development, proposes to keep the quota at 600,000 tons per year

According to the draft, 80% of the tariff quota volume will be distributed to participants based on export data from January 1 to December 15, 2023 multiplied by the established coefficient of each region, and the remaining 20% will be distributed to companies supplying scrap steel and ferrous metal scrap to Russian steel enterprises during the period from July 1 to December 31, 2023.

According to the Russian Scrap Metal Association, exports of ferrous metal scrap from Russia to Belarus reached 112,300 tons in August, up 17 percent year-on-year and 9.3 percent month-on-month. In the first eight months of this year, Russian exports of ferrous metal scrap to Belarus doubled from the same period last year, reaching 766,900 tons. In the first half of the year, the amount of scrap collected in Russia was 11.2 million tons, an increase of 6%. Scrap consumption was flat year-on-year at 10.2m tonnes. According to the Russian Scrap Metal Association, the situation in the domestic scrap recycling market in Russia is stabilizing.

In addition, foreign media said that Kazakhstan has also recently tried to extend the ban on the export of ferrous and non-ferrous metal scrap for another six months from November 7. According to the latest government statistics, the country exported only 25,000 tons of scrap in the first eight months of this year, compared with 125,000 tons in 2021 and 1 million tons in 2019.