Russia's Ministry of Industry and Trade is proposing to double the export duty on ferrous scrap to ?,?90 ($109.82) per tonne in a bid to halt export growth and stabilize domestic prices of the raw material and steel products.
The previously imposed rate of ?,?45 per tonne has not been enough to secure sufficient domestic supply of scrap and prevent excessive exports, the ministry said.The existing duty was introduced on January 31 this year and will be effective until the end of...