Russia approves steel export taxes

The steel export tax initiative in Russia was approved by the Russian authorities late on June 25.  The measure, suggested as a means to curb the rapid price increases for steel in the local market in Russia, will be imposed for the period from August 1 to December 31 this year. The base export rate is 15 percent and each product will be subject to a specific duty component in US dollars per metric ton. This will be calculated depending on the product... Read More