Russia removes or reduces duties on ferro-alloy exports

The Russian government has removed or reduced existing export duties on ferro-alloys, effective October 15, after responding to domestic industry concerns, trade sources said.

Russia implemented its latest export tax changes on Friday October 15, a move which included scrapping the export taxon ferro-alloys such as ferro-titanium and ferro-tungsten.
On Monday, Russia's Ministry of Economic Development also moved to cut the export tax on ferro-silicon, which had been unchanged in its September proposal. "[T]he decision was supported to cut the export duty on ferro-silicon to 5% from 15% (but not less than $150 per tonne)," the Ministry said in a statement published on its website on October 18.

"The adjustment of the [ferro-silicon] duty will allow the directing of profits from the export of ferro-silicon to investments in the development of chromium deposits in the Yamalo-Nenets Autonomous Okrug...

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