The Cabinet of Ministers will change the rates of export duties on ferroalloys and iron in powder

AK&M 15 September 2021 13:12

Export duty rates for ferroalloys and powdered iron will be adjusted. This decision will help to support metal producers, strengthen their export potential and maintain employment at large enterprises. This was reported by the Government of the Russian Federation.

For ferromanganese, the duty rate will be 5%, but not less than $49 per ton; for ferrosilicochrome-5%, but not less than $71 per ton; for ferrochrome-5%, but not less than $57, $109 or $134 per ton (depending on the type of alloy).

It also provides for the abolition of export duties on iron in powder, ferromolybdenum, ferroniobium, ferrovolfram, ferrotitane. Recall that in June 2021, the Government established temporary duties on the export of ferrous and non-ferrous metals. The introduction of duties made it possible to mitigate the impact of external conjuncture on the domestic market.