Russia officially imposes export duties for most steel and raw materials until end of 2024

Russia’s government has adopted a decision to implement export duties for certain categories of products, including steel and raw materials. The export tax will be applicable from October 1, 2023 until December 31, 2024. “The regulation is adopted in order to support the optimal ratio of the local consumption and exports. The imposed decision will help protecting the local market from the unconditional increase of the prices. The flexible export... Read More

India scraps export taxes on steel and some raw materials, adds import tariffs on coal and coke

In a slew of tariff changes, the Indian government has scrapped export duties on pig iron, specified iron and steel products and pellets, according to a government notification late on Friday, November 18. As a result, 15 percent export duties from India on major longs and flat steel products, as well as pig iron, have been lowered to zero, while the export duty of 45 percent on pellets has also been scrapped. The export duty on iron ore lumps and... Read More

New duty regime in India

The Indian government has waived import duties on some key steel-making raw materials like coal and imposed the export duties on iron ore and steel products. The new duty regime has come into effect on the night of May 22, according to a government notification. The Indian government reduced import duty on ferro-nickel, coking coal from 2.5 percent to nil and that on coke and semi-coke from 5 percent to nil to bring down cost of production of steel... Read More

Export policy in Iran amended as prices go down

With the downtrend in the global steel market having continued to gain momentum, Iran-based steel suppliers have had no other option than to lower their prices in order to be competitive in the export market. With prices having reached their low levels in the latest tenders, the time has come for Iranian authorities to revise the export duties in accordance with the provisions of announcement declared by the deputy minister at the Iranian Ministry... Read More

Ukraine increases export duty on ferrous scrap significantly

On December 2, 2021, Ukraine increased the export duty for steel scrap to €180/mt from the previously valid €58/mt. Earlier, there had been an initiative to raise the tax to €200/mt but the final rate was approved at a lower level. Ukraine-based steel producers had been lobbying for the export tax imposition and its gradual increase for some years now, claiming that strong export activity harms their costs and margins, while preference should... Read More

Short Range Outlook : July 2021

Global longs market still positive overall despite logistical costs and delays Overall, the global long steel products market still looks positive, supported by strong demand, even though business has become more difficult due to higher logistical costs and time delays in getting goods from one place to another. Exporters are all under pressure due to the increase in freight costs. Container shipments are also very problematic. The only steel moving... Read More

Russia approves steel export taxes

The steel export tax initiative in Russia was approved by the Russian authorities late on June 25.  The measure, suggested as a means to curb the rapid price increases for steel in the local market in Russia, will be imposed for the period from August 1 to December 31 this year. The base export rate is 15 percent and each product will be subject to a specific duty component in US dollars per metric ton. This will be calculated depending on the product... Read More

Ukraine extends export duty on ferrous scrap for next five years

On May 14th, Ukrainian president Mr Zelensky signed the law extending the duty on the export of ferrous scrap for the next five years, effective from May 15, 2021, to September 15, 2026. “This document extends the period of validity of the export duty rate of €58/mt for waste and scrap of ferrous metals for five years – until September 15, 2026. Such conditions have been created to prevent a shortage of ferrous scrap in Ukraine, which... Read More

Ukraine extends export duty on ferrous scrap

The Ukrainian government has decided to extend the duty on the export of ferrous scrap for the next five years. Accordingly, on April 27 the Ukrainian parliament welcomed and expressed its full support for a five-year extension of the duty on the export of ferrous scrap at the current level, i.e. at €58/mt.  Read More

Russia amends scrap export restrictions

At the end of December, the Russian authorities approved the amendment to the existing export restrictions in the steel scrap segment. The export tax for ferrous scrap has remained at the five percent level, but the minimal equivalent has been increased from €5/mt to €45/mt. The renewed restriction will be valid for 180 days from the moment the official document comes into force. Some sources stated that the duty will be valid for export shipments... Read More

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