Russia almost everywhere exports scrap outside the EEC in January – Economy and business
MOSCOW, 4 February. /TASS/. Export of ferrous metal scrap from Russia outside the Eurasian Economic Union in January compared to the same period last year by 99.6%, up to 3 thousand tons, TASS reported to the association of scrap processors NSRO Ruslom.com, citing statistics from participants market and own calculations.
“The decrease in indicators was mainly an increase in the value of reserves of a significant level of exports of precious metals to 100 euros per ton from the new year,” Viktor Kovshevny, director of Ruslom.com, commented to TASS. due to the low level of prices on the world market and the growth of logistics costs.
From January 1, 2022, the minimum duty rate for the export of scrap and ferrous metal waste from the Russian Federation has increased from 70 to 100 euros per ton. The rate is rewarded at a rate of 5%, but not less than 100 euros per ton. The measure was introduced to ensure the domestic market for raw materials and contain prices.
According to preliminary data from Ruslom.com, scrap collection in Russia in January is expected to increase by 38% compared to the same period last year, to 1.41 million tons.
According to Kovshevny, the collection of raw materials is the largest export in the export-oriented North-Western and Far Eastern federal districts, “since international processors were previously mainly collected in port warehouses of raw materials for shipment, and redirected it towards the domestic market, there is no logistical possibility” .
“At the January gathering, it was also said that there was a decrease in the amount of snowfall in all regions of Russia and a decrease in commodity prices in early January, which saw a decrease in the number of scrap collectors – there was a decrease in the decrease in purchases compared to the same period last year due to appetite for stocks.”