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04 Jan
12:08

Ferrous export duties will hurt Russia’s budget: association

In the event of the introduction of export duties on steel and scrap, Russia’s consolidated budget will be deprived of RUB 50 billion ($682.5 million), according to the Russian Steel Association. Russia’s development ministry agreed to raise the existing 5% ferrous scrap export duty to 15% and the minimal fiscal value to €45/tonne ($55) from €15/t, for six months. This followed a request from the country's Pipe Industry Development F…
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