Steel market insight: Ukraine sets three times higher scrap export duty

摘要

On Thursday, Dec 2, the government of Ukraine took a decision to raise the size of an export duty on steel scrap to €180/t. The new tariff has already come into force. It should be noted that the €58/t levy on export shipments of steel scrap from Ukraine was in effect during the past few years. Moreover, in May 2021, the duty was extended for another five years, that is until Sep 15, 2026. However, this month the Ukraine's government has reconsidered the May regulation and raised the size of the duty in order to ease shortage of steel scrap on the domestic market.