Post sponsored by NewzEngine.com

MIL OSI Translation. Region: Russian Federation –

Export duties on aluminum alloys will be established at zero percent. A directive to this effect has been approved by Prime Minister Mikhail Mishustin. The decision will make it possible to strengthen the export potential of alloy producers and maintain employment levels at major plants. A reduction of import duties on ferrosilicium down to five percent was also approved. Earlier, the Government had introduced a 15-percent provisional duty on this alloy, but not less than $ 150 per one metric tonne, as well as a 15-percent duty on aluminum, but not less than $ 254 per one metric tonne.

The directive will come into effect in 30 days and will apply to legal relations that arose starting from 18 October and onwards.

In June, the Government established provisional duties on exported ferrous and non-ferrous metals. The decision was prompted by the growth of world prices for metal products. The surge in prices made it difficult to implement major infrastructure projects and necessitated additional spending on the construction of social facilities. Introducing the duties made it possible to alleviate the impact of the external situation on Russia’s domestic market. The current decision to revise certain rates represents a response to industry appeals and is due to certain shifts in the external market situation.

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

MIL OSI Russia News