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MIL OSI Translation. Region: Russian Federation –

10/17/2021

The government abolished export customs duties on powdered iron and some alloys made from this metal. This government decree comes into force on 17 October.

The document deals with customs duties on goods that are exported from Russia outside the borders of the states – parties to the agreements on the Customs Union. In particular, the rates for ferroalloys were revised. For example, for ferromanganese, the duty will be 5 percent per ton, but not less than $ 49. For ferrosilicochrome, the rate will also be 5 percent, but not less than $ 71 per ton. For ferrochrome, the minimum rate is set from $ 57 to $ 134 per ton, depending on the type of alloy.

Also, the decree cancels export duties on iron powder, ferromolybdenum, ferroniobium, ferrotungsten, ferrotitanium. At the same time, the new rules relate to legal relations that arose from September 3, 2021.

This decision was made in response to requests from industry representatives, and is associated with a change in the situation in foreign markets, the Ministry of Industry and Trade reported earlier.

At the end of June, the Russian government approved the introduction of temporary duties on the export of ferrous and non-ferrous metals for the period from August 1 to December 31, 2021. This was due to a long period of growth in metal prices, which hindered the implementation of large infrastructure projects. The introduction of temporary duties made it possible to soften the influence of external factors on the domestic market, and in October, prices began to stabilize, for example, for cast iron and iron ore.

A source: Parliamentary newspaper

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EDITOR’S NOTE: This article is a translation. Apologies should the grammar and / or sentence structure not be perfect.

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