The introduction of a Russian export duty on steel products carries serious risks for the country's steel industry, Russia's steel association Russkaya Stal warned last week.
The duties, which cover 340 metal products, will apply from August 1 through to December 31 and have a base rate of 15%, with a specific minimum rate for each product."If the current market situation persists, export volumes may drop by 1 million tonnes - equivalent to 40 billion roubles ($541.76 million); the volume of steel and pig iron output will...