Russia extends export quota for ferrous scrap until end-2024

Russia has decided to extend the tariff quota for exporting ferrous scrap and waste metals outside the Eurasian Economic Union (EAEU) from July 1 to December 31, Mysteel Global learned from the government public gazette.

Under the latest decree, the quota is 550,000 tonnes, the duty is 5% when exporting ferrous scrap and waste within the quota, though not less than EUR 15/tonne ($16.1/t), and the duty is 5% above the quota, though not less than EUR 290/t. The objective of this decree is to secure essential raw materials strategically for