Ukraine’s steel mills support prolongation and tightening of scrap export restriction

Ukraine’s steel mills support prolongation and tightening of scrap export restriction

Posted on by admin

Ukraine-based steel producers have indicated that they are in favor of the prolongation or even the tightening of the existing restriction for scrap exports, claiming it would help avoid undesired unemployment in the sector and basically support the mills in terms of a relatively secure raw material supply.

The metallurgical sector representatives said they support the prolongation of the existing €58/mt export duty on steel scrap from Ukraine for another five years in order to prevent the growing deficit of supply in the local market. Moreover, since even with the restriction the internal scrap supply volumes are not quite enough for producers, they are also in favor of tightening the trade measure and even think that a complete ban on scrap exports may be considered by the country’s authorities.

Such views were expressed at a meeting held by the competent authorities last Friday, February 19, on the functioning of Ukrainian metallurgical enterprises and their provision with scrap metal. However, the final official decision on the matter remains to be taken.

Leave a Reply

Your email address will not be published. Required fields are marked *