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MIL OSI Translation. Region: Russian Federation –

10/18/2021

The Subcommittee on Customs Tariff and Non-Tariff Regulation, Protective Measures in Foreign Trade of the Government Commission on Economic Development and Integration supported the zeroing of the rates of export customs duties on aluminum alloys. This initiative was applied by the enterprises of the industry and the regions where the corresponding factories are located.

The duty on unprocessed (unalloyed) aluminum will remain at the current level – 15%, but not less than USD 254 per ton.

Compared to May of this year, domestic prices for aluminum decreased by 0.5%, while prices on the global market during the same time increased by more than 18%.

The funds saved as a result of adjusting the foreign trade measure will help implement a large-scale program for the construction of high-tech and environmentally friendly plants, in which non-state funding accounts for a significant share. In accordance with it, by 2030, it is planned to rebuild the 4 largest aluminum plants – Krasnoyarsk, Bratsk, Irkutsk and Novokuznetsk. To provide new production facilities, the Taishet Anode Factory will be expanded.

In addition, the decision was supported to reduce the export duty on ferrosilicon from 15% (but not less than $ 150 per ton) to 5%. The discussion took into account the change in the situation on the world markets in comparison with the June price indicators, on the basis of which the decision to impose duties was made. Under the influence of the external environment, risks appeared for the production of a number of types of products. The adjustment of the duty will allow directing the profit from the export of ferrosilicon to investments in the development of chromium deposits in the Yamalo-Nenets Autonomous Okrug and the Perm Territory. Thanks to this, the dependence of the domestic market on imports will decrease in the coming years.

A source:Ministry of Economic Development of the Russian Federation

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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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