Verkhovna Rada of Ukraine approves 1.4 times increase of export duty on scrap

摘要

The Verkhovna Rada of Ukraine have approved a bill which presupposes a significant increase of the export duty onsteel scrap. Upon that, the restrictive measures have been extended for 1 year instead of 3 years as proposed earlier.The main reason for the rate increase was the reduction of the current measures restrictive role in the face of priceincrease, which led to the rise in scrap export supply.