The Russian government has announced imposition of export duty on all steel products and ferrous and non-ferrous metals, effective from 1 Aug ’21 till 31 Dec ’21, as per latest reports. The base duty will be 15% and there will be a special tariff for each material. The tariff for nickel will be $2,321/t and for stainless steel and ferro alloys it is expected to be $150/t. Russia is a major exporter of ferro alloys to the Netherlands, Japan and South Korea.
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