CIS export billet prices fell on Monday July 5, with customers pushing for lower rates because Russian mills are now looking to sell volumes ahead the introduction of an export duty in August.
On Friday June 25 the Russian government approved a temporary export duties on 340 steel and non-ferrous metals sold outside the Eurasian Economic Union (EAEU).The duties will apply from August 1 through to December 31 and have a base rate of 15%, with a specific minimum rate of $115 per tonne for...