Quota on ferrous scrap from Russia totaling 600,000 tonnes could be extended through mid-2024

MOSCOW. Nov 16 (Interfax) - The tariff quota for exports outside Russia to countries which are not EAEU members of ferrous metal scrap and waste may be extended to June 30, 2024. The draft decree has been drawn up by the Russian Ministry of Economic Development and is available on regulation.gov.ru.

It's proposed that the quota volume remains at the previously established level of 600,000 tonnes.

The intra-quota export duty rate is expected to remain the same - at a level of 5%, but no less than 15 euros/tonne, the extra-quota rate - 5%, but no less than 290 euros/tonne. The export duty on waste and scrap alloy steel is proposed at 5% but no less than 290/tonne.

The bulk, 80% of the quota volume, is distributed among participants of foreign trade activities according to the historical principle, based on export data for the period from January 1 and up to and including December 15, 2023, multiplied by coefficients of Russia constituent entities.

The remaining 20% of the tariff quota is distributed among companies that supplied ferrous metal waste and scrap to backbone organizations or Russian metallurgical enterprises between July 1 and December 31, 2023.