RUSSIA November 13 2013 1:14 PM
MOSCOW (Scrap Register): The government of Russia has trimmed its scrap export duty from 15% to 12.5% since November in order to meet required policy from WTO.
Country has carried out the new export duty at main ports such as Vladivostok and Nakhodka. For the scrap price around US$300/ton, the export duty will be dropped to US$37.5/ton from US$45/ton.
Meanwhile, Russia will further cut its export duty of scrap by 2.5% per year since 2014. Based on its schedule, the export duty of scrap will be at 10% in 2014, 7.5% in 2015 and 5% in 2016.