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Russia to Impose 15% Provisional Export Tariffs on Certain Metals
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2021-06-29
The Government of Russian Federation has recently announced that it will impose the export tariffs of at least 15% each on steel, nickel, aluminum, and copper since Aug. 1st, 2021 and this measure will officially come into effect through the end of this year. According to the measure, copper will be subject to a tariff rate of US$1,226 per ton; nickel will be subject to a tariff rate of US$2,321 per ton; aluminum will be subject to a tariff rate of US$254 per ton; however, rates for steel products differ from each other, and in the “hot rolled steel” category, it will be at least US$115 per ton.
The measure is aimed at protecting national defense and construction industries in Russia from the impact of hiking material costs. As the aluminum output of United Co Rusal International represents around 10% of the global total and the nickel output of Norilsk Nickel represents around 20% of the global total, and Russia itself is also the world’s 3rd largest steel exporter (mainly shipping to Europe), it is expected that such a measure will cause a significant impact on the global metal supply market.
Some analysts also estimated that, since several consumers in Taiwan and Asian countries import steel scrap, semi-finished steel billets, and hot rolled steel from Russia, plus the recent plunge of China’s export, the capacity to supply Asian market may become tighter.
The measure is aimed at protecting national defense and construction industries in Russia from the impact of hiking material costs. As the aluminum output of United Co Rusal International represents around 10% of the global total and the nickel output of Norilsk Nickel represents around 20% of the global total, and Russia itself is also the world’s 3rd largest steel exporter (mainly shipping to Europe), it is expected that such a measure will cause a significant impact on the global metal supply market.
Some analysts also estimated that, since several consumers in Taiwan and Asian countries import steel scrap, semi-finished steel billets, and hot rolled steel from Russia, plus the recent plunge of China’s export, the capacity to supply Asian market may become tighter.
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黑色金屬
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臨時出口關稅
銅鐵鋁鎳
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steel
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aluminum
nickel
provisional tariffs
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GOVERNMENTS/ASSOCIATIONS/FASTENER GROUPS
2021-06-29
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