Russia extends ferrous scrap export quota system until end-CY22

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The Russian government has approved the extension of scrap export quota system until the end of CY22, as per SteelDaily reports.
According to the resolution, scrap exports of 1.35 mnt will be subject to 5% tariff, equivalent to Euro 100/t ($103) and exports exceeding 1.35 mnt will be charged Euro 290/t.
This decision has been made to control the hike in scrap prices and to ensure the supply of the same in the domestic market.

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