Russian govt extends ferrous scrap export quota until June 30, 2024

MOSCOW. Dec 25 (Interfax) - The Russian government has extended the tariff quota for the export of ferrous scrap metal and waste outside the Eurasian Economic Union (EAEU) by six more months until June 30, 2024.

Under the new resolution, the quota for the first half-year of 2024 will be 600,000 tonnes, the government's press service said in a statement. The same quota size was set for the second half of this year.

The in-quota duty will remain unchanged, at 5%, but at least 15 euros per tonne. The over-quota duty also will remain at 5%, but at least 290 euros per tonne.

"The decision aims to provide domestic enterprises in the metals industry with the strategic raw material," the statement said.