Russia’s scrap export duty hike could dent sales

摘要

London—Industry participants expect Russian ferrous scrap exports to decline in the first half of 2021 as a result of an up to three-fold increase in the country’s customs duty on exports effective from end-January. Russian Railways shipped some 14.3 million mt of ferrous scrap in 2020, 2.7% less than in 2019. The volume, comprised of both exportbound and domestically distributed material, demonstrated much less decline than that of by-rail ferrous metals distribution. The latter, at 66.4 million mt, fell 10% in 2020 versus 2019, according to Russian Railways.