Ukraine hikes scrap export tax for three years

The Ukrainian parliament has announced that it has approved a law to increase the export tax on scrap, including stainless scrap, from €10/mt to €35/mt for three years. Meanwhile, as of March 23, 250 exporters applied to Ukraine’s Ministry of Economic Development and Trade for scrap export licenses for a total of 3.8 million mt, while only 152 exporters were permitted to export a total of 303,625 mt of scrap for two months. Three exporters received the largest permit volume of 10,000 mt each. As of March 15, the ministry had approved scrap export licenses amounting to a total of 143,800 mt for 56 companies. In early March, the Ministry of Economic Development and Trade announced an export quota of 1.1 million mt for scrap for 2016, compared to a quota of 1.2 million mt in 2015.

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