UPDATE 2-Russia Mulls Revising Metals Duties - Minister-Shanghai Metals Market

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UPDATE 2-Russia Mulls Revising Metals Duties - Minister

Industry News 09:16:23AM Jun 02, 2010 Source:SMM

ROSTOV-ON-DON, Russia, June 1 -- Russia's economy ministry is looking into revising some base metals export tariffs, but no dates for any changes have been discussed, Economy Minister Elvira Nabiullina said on Tuesday.

Russian news agencies reported on Tuesday that Russia may restore a 10 percent export tariff on copper and adjust a 5 percent export tariff on nickel, possibly this year, as metal producers recover from the economic downturn.

The economy ministry had sent a proposal with the changes to the government, agencies cited Deputy Economy Minister Andrei Slepnyov as saying.

But Nabiullina said a revision may take more time.

"This (tariffs) issue is being discussed," Nabiullina told Reuters on the sidelines of an EU-Russia summit in Rostov.

"We have not yet discussed concrete dates of setting them. So far the scheme of levying the tariffs remains unchanged."

She confirmed that the government was aiming to make the export tariff on nickel more flexible and to peg it to world nickel prices "in the future".

Asked when the copper tariff may be reset, Nabiullina said the issue had not yet been discussed.

Russia scrapped copper and nickel tariffs in February last year to help Norilsk Nickel (GMKN.MM: Quote) and other producers, but it has since restored the nickel tariff.

In September, a senior government official was quoted as saying that Moscow may restore export tariffs on all base metals traded on the London Metal Exchange.

 

 

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UPDATE 2-Russia Mulls Revising Metals Duties - Minister

Industry News 09:16:23AM Jun 02, 2010 Source:SMM

ROSTOV-ON-DON, Russia, June 1 -- Russia's economy ministry is looking into revising some base metals export tariffs, but no dates for any changes have been discussed, Economy Minister Elvira Nabiullina said on Tuesday.

Russian news agencies reported on Tuesday that Russia may restore a 10 percent export tariff on copper and adjust a 5 percent export tariff on nickel, possibly this year, as metal producers recover from the economic downturn.

The economy ministry had sent a proposal with the changes to the government, agencies cited Deputy Economy Minister Andrei Slepnyov as saying.

But Nabiullina said a revision may take more time.

"This (tariffs) issue is being discussed," Nabiullina told Reuters on the sidelines of an EU-Russia summit in Rostov.

"We have not yet discussed concrete dates of setting them. So far the scheme of levying the tariffs remains unchanged."

She confirmed that the government was aiming to make the export tariff on nickel more flexible and to peg it to world nickel prices "in the future".

Asked when the copper tariff may be reset, Nabiullina said the issue had not yet been discussed.

Russia scrapped copper and nickel tariffs in February last year to help Norilsk Nickel (GMKN.MM: Quote) and other producers, but it has since restored the nickel tariff.

In September, a senior government official was quoted as saying that Moscow may restore export tariffs on all base metals traded on the London Metal Exchange.