Russia raises tariffs on scrap exports to $113/t

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Russia is increasing tariffs on ferrous scrap exports to Euro 100/t ($113/t) from the current Euro 70/t, as per SteelDaily reports.
The tariff will be effective for six months from 1 Jan’22.
The tariff hike is meant to check volatility in domestic prices of raw materials.
Russia exported 4.5 mn t of scrap in CY’20, with Turkey, South Korea and Belarus being the key importers.

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