Russia considers export duties on steel billet, rebar

The Russian government is mulling over the introduction of export duties on rebar and billet to combat a sharp rise in domestic long steel prices, Fastmarkets heard on Monday December 28.

Federal Antimonopoly Service of Russia (FAS) suggested the export measures to curb sharp price increases in Russian domestic long steel market, according to a letter from FAS to the Ministry of Industry and Trade of the Russian Federation (Minpromtorg) seen by Fastmarkets.
FAS proposed a 13% duty on billet exports and a 12% duty on rebar exports. The duty would be no less than $73 per tonne on billet exports and no less than $78 per tonne on rebar exports.

The duty could be imposed for a six-month period...

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