Russian govt raises quota to export ferrous scrap metal by 300,000 tonnes until end of 2025

MOSCOW. Aug 7 (Interfax) - The Russian government has decided to increase the quota for exporting ferrous scrap and waste outside the Eurasian Economic Union (EAEU).

The quota will rise by 300,000 tonnes from 1.5 million tonnes to 1.8 million tonnes the government press service said. The Industry and Trade Ministry will distribute the additional quota volume among participants in foreign trade activities. The decision is in force until December 31, 2025.

The increase in the quota will allow industry participants to sell additional raw materials on the foreign market that are not in demand on the domestic market, the press service said.

The duty is 5%, but not less than 15 euros per tonne when exporting ferrous scrap and waste within the quota. The duty is 5% beyond this, but not less than 290 euros per tonne.