On May 14th, Ukrainian president Mr Zelensky signed the law extending the duty on the export of ferrous scrap for the next five years, effective from May 15, 2021, to September 15, 2026.

“This document extends the period of validity of the export duty rate of €58/mt for waste and scrap of ferrous metals for five years – until September 15, 2026. Such conditions have been created to prevent a shortage of ferrous scrap in Ukraine, which will contribute to the smooth operation of the domestic metallurgical industry, preserving jobs and increasing tax revenues to budgets of all levels” the official press release stated.

In addition, the extension of the duty is expected to reduce greenhouse gas emissions, which is in line with Ukraine’s intentions to join the European Green Deal. “Recycling of scrap into steel requires only one third of energy costs in comparison with the product,on of steel from primary raw materials” the release said.