31 December 2023
A very happy New Year 2024 to all professionals and business people in metal scrap processing and metallurgy!
The National Recycling Association RUSLOM.COM continues to publish its regular newsletter for international partners, containing valuable proprietary information on the Russian metals and scrap markets: RUSLOM.COM self-regulatory news and updates; the national metal scrap processing industry stories; as well as the latest Rusmet Rating Agency market indices. In the course of 2023 Russia has experienced a major shift in its foreign economic relations and commercial activities, the Global East and South becoming the nation’s closest economic partners. In today’s ever-changing world, we greatly appreciate your feedback, based on the above newsletter and beyond.
Index
ASSOCIATION NEWS: ANNOUNCEMENTS AND POST-RELEASES. 3
Annual meeting results of National Recycling Association RUSLOM.COM are summarised. 3
Lead industry issues discussed at meeting with RUSBAT and RUSLOM.COM associations. 8
NEWS OF RUSSIAN SCRAP PROCESSING.. 10
Russia extends export quota for ferrous scrap and waste metals for six months. 10
Cleaning up the waters of the Sakhalin Oblast 11
RUSMET RATING AGENCY INDICES. 12
METALLURGY NEWS OF RUSSIA.. 13
Process and technology optimisation in mining. 13
Investing in new energy solutions. 13
Logistics and future of non-ferrous metals. 14
From China to Russian companies. 14
Construction of coal terminal on Sakhalin. 15
MACROECONOMIC NEWS OF RUSSIA.. 16
Russia abolishes export duties. 16
How much has been collected thanks to the export duties?. 17
ASSOCIATION NEWS: ANNOUNCEMENTS AND POST-RELEASES
Annual meeting results of National Recycling Association RUSLOM.COM are summarised
On 8 December 2023 in Moscow the regular general meeting of the members of the National Recycling Association RUSLOM.COM was held. The agenda included reports of the Association’s officials and voting by the members of the self-regulatory organisation on pre-designated issues. The issues submitted for voting and approval by the general meeting:
- Report of the President on the results of the Presidium of the Association, the results of regional events in 2023.
- Report of the Director on the results of the Association’s activities in 2023.
- Approval of the Plan of realisation of priority directions of the Association’s activity for 2024-2026.
Issues for discussion not submitted for voting procedure:
- Reports of representatives of committees and commissions of the Association on the results of activities in 2023.
- Announcement of the plan of events and activities for 2024.
- Current state and prospects of development of ferrous and non-ferrous metals and precious metals scrap market in Russia, including the following directions, initiatives and problematic issues:
- ELVs recycling – Implementation of the relevant resolution and launch of the state programme on auto-recycling;
- Export restrictions on scrap metals;
- Exemption of the individuals from personal income tax in the framework of selling secondary materials;
- Agency VAT on all cycles of copper processing.
Also, for the approval of the meeting was presented a plan for the implementation of the priority areas of activity of the Association until 2026 and in the future until 2030. The plan was drawn up taking into account the Action Plan for the Implementation of the Strategy for the Development of the Metallurgical Industry of the Russian Federation for the period up to 2030 and consists of two sections: the Plan for the Implementation of Priority Activities of the Association until 2026 and in the future up to 2030 and the Action Plan for the Implementation of the Strategy for the Development of the Metallurgical Industry of the Russian Federation for the period up to 2030, approved by the Deputy Chairman of the Government of the Russian Federation – Minister of Industry and Trade of the Russian Federation.
The meeting was opened by the report of the President of RUSLOM.COM Association Vladimir Volodkin on the results of 2023, who spoke about the main results of the organisation’s activities both in the country and on the external track.
An important step for the industry, according to the speaker, was the transition to non-cash settlements with individuals for scrap. Vladimir Volodkin noted that the transition faced certain difficulties, affecting both banks and companies. However, the Association is actively addressing the emerging issues, seeking to find optimal solutions for all stakeholders.
The speaker also touched upon the issues of limiting scrap exports. Thanks to the active actions of the Association, the Ministry of Industry and Trade of the Russian Federation meets the needs of the scrap processing industry.
Developing the topic of international activities, Mr Volodkin noted that the Association has successfully established contacts with international partners during the current year: “We have established links with the global South, travelled to Iran, received invitations from India, and in June we visited China. Our meetings with representatives of industry associations in Beijing and in autumn in Vietnam with scrap metal workers from that country were also productive”.
The event programme continued with presentations by representatives of the Association’s committees and commissions on the results of 2023 and plans for 2024.
Alexander Kobenko, member of the Board of Directors of Acron Holding Group and Chairman of the Financial Markets Committee of RUSLOM.COM Association, noted in his speech that over the reporting period, the Committee helped to form more than 10 positions on legislative issues. The Committee took part in all key events of the Association.
Mr Kobenko highlighted several key topics for discussion, such as the development of initiatives to abolish personal income tax. A proposal was received to set up an initiative group within the Association to work on this issue. Other topics included the transition to an agency VAT scheme and work on easing or cancelling restrictions on scrap exports.
The event continued with a report by Andrey Antonov (TransLom LLC), Chairman of the Association’s Control Commission. The plan for 2023 provided for the inspection of 30 companies. As a result, inspections were carried out in respect of 24 companies from the submitted list. The geography of inspections includes the Moscow, Pskov, Tyumen, Vologda regions, the Republic of Mordovia and the city of St. Petersburg. The data on inspections are transmitted to Rosreestr on a quarterly basis.
9 audited companies (LLC Mordovian Procurement Company, LLC Pskovvtormet, LLC Gefest-Khabarovsk, LLC Atria, LLC Regional Transportation, LLC LomTorg, PC Vtoraluminproduct, STEP Metal and Oris Prom) demonstrated the highest degree of compliance with standards and SRO rules.
The report of the Committee on Standardisation, Research, and Education of the RUSLOM.COM Association, chaired by Sergey Koldaev (TransLom Ltd.), was presented at the meeting. Valery Abyzov, Executive Secretary, spoke on behalf of the Committee.
In 2023, the Committee approved and successfully implemented the annual work plan, which included activities on the formation of the Association’s industry standardisation system, the work of the Standards Committee within the framework of Rosstandart technical committees, and work on requests from Association members for advanced training, professional training, education and certification of employees.
Anna Shtern (Evromet Ltd.), Chair of the Committee on Managing Scrap and Waste of Precious Metals presented the committee’s report, describing, among other things, changes in the scrap collection rules.
The next speaker in the event programme was Victor Kovshevny, Director of the Association, who spoke about the strategy for the development of the scrap metal recycling industry in Russia until 2030 and in the future until 2050. In his speech he stressed the importance of cooperation between state authorities and private companies to achieve the goals of sustainable development of the industry.
Victor Kovshevny noted that in today’s world, the scrap metal recycling industry development strategy should include not only economic aspects, but also principles of ESG. He highlighted several key areas necessary for the successful development of the industry, emphasising the importance of innovation and technological progress.
Victor Kovshevny said that it is important to integrate ESG principles into the industry’s activities. He noted the importance of support from the state through the development of regulatory rules and standards for scrap metal processing, providing incentives and subsidies for investment in the industry, and others.
However, the strategy should not be solely state-owned. Private companies can also play a key role in achieving its goals. This includes investing in state-of-the-art technology, focusing on the quality of recycled materials, optimising the supply chain and establishing partnerships to ensure a stable supply.
The Association Director emphasised that the combined efforts of government, private companies and associations such as RUSLOM.COM are crucial in creating a sustainable scrap metal recycling industry. They can create synergies to accelerate the industry’s growth, sustainability and global sustainability goals.
The role of a national recycling association such as RUSLOM.COM is critical in coordinating the efforts of various stakeholders, advocating for the industry and promoting strategic initiatives that are aligned with national and global sustainability goals. As a representative body, the Association could focus on several strategic directions to support the scrap metal recycling industry in Russia for the period up to 2030 and expand this vision to 2050.
In his speech, Victor Kovshevny also touched upon the topic of restricting scrap exports. The implementation of a policy of restricting scrap metal exports will cause a chain reaction affecting different time periods. The speaker provided an overview of the possible impacts on scrap prices and availability in the short, medium and long term.
The short-term impact could be a decrease in domestic prices. Initiating a ban could lead to a surplus of scrap metal in the local market, causing prices to fall in the initial period.
The long-term impact could cause potential inflation in scrap prices. If domestic demand increases while export restrictions remain in place, prices could rise, reflecting market inefficiencies. Availability of scrap will lead to potential shortages: export restrictions in the long term could cause shortages if domestic production cannot meet demand.
According to the speaker, high prices could stimulate innovation and investment in scrap metal collection and processing, which could ultimately increase availability.
In addition, restricting exports will impact the recycling industry, may change international trade dynamics, and may require regulatory intervention if significant negative effects on the economy emerge.
It is important to note that the impact of such changes depends on a variety of factors, including the size of the domestic scrap market, the responsiveness of the domestic recycling industry, and the specifics of global demand for metals.
Free trade in scrap metal is an important economic factor for several reasons, and its restriction through export bans or high tariffs by domestic steel companies seeking to lower prices can have multifaceted consequences, said Victor Kovshevny.
The Association proposes not to allow toughening of ferrous scrap export regulation measures as compared to those in force in 2023, and within the framework of observing the principle of non-deterioration of business conditions, to retain the export duty rate of 5%.
The Association also proposes to increase the size of tariff quota up to 2 million tonnes for 12 months of 2024, including 1 million 200 thousand tonnes as the main volume and 800 thousand tonnes as an additional volume for scrap collectors harvesting metal waste in the territories of the Arctic zone of the Russian Federation.
In addition, in order to create economic conditions for the procurement of hard-to-recover scrap in the Arctic zone and regions significantly remote from end consumers (Kaliningrad Oblast, Magadan Oblast, Sakhalin Oblast, Kamchatka Krai, Primorsky Krai), it is proposed to provide for the following
The Association’s action plan for 2024 was presented, including business tours to India, China, UAE, Turkey, Cuba; organisation of its own events (MIR-Expo International Exhibition and the 19th Ferrous and Non-Ferrous Metals Scrap Forum, Southern Scrap Regional Conference and Scrap Processing Week, Metal Cruise, conferences, including regional ones, business tours to enterprises, etc.); and participation in key industry events such as ZILANT, INNOPROM, Cabex, Russian Environmental Forum, Metal Expo, etc.
In addition to the report of the Director of RUSLOM.COM, Alexey Kondratyev, Director of Public Relations of the self-regulatory organisation, presented a report on the results of PR activities in 2023. In his speech, the speaker shared with the audience analytical media data using Medialogy assessments, a leading national automatic system for monitoring and analysing media and social media in real time, measuring the position of the Association in the context of press citations and reputation management.
Highlighting aspects of international PR activity, the Director of Public Relations, in particular, noted that in 2023 RUSLOM.COM launched its own newsletter in English for international partners. The newsletter covers news, announcements, releases from the Association, as well as key news from the Russian scrap industry, the metals sector and the macro economy. The newsletter invariably attracts great interest from the Association’s international partners. Feedback is received from foreign businesses from India, China, Indonesia, Turkey, etc.
The event continued with the session Trends in Scrap and Waste Metal, Production and Consumption Waste Management, With representatives KIWI Bank, Promsvayzbank, International Association of Recyclers of Secondary Resources, Huahong-Rus, Taurus Motors as the speakers.
During the event, the annual award for businesses (including small and medium-sized businesses) on sustainable development and responsible business conduct was presented. The award was established by the Centre for Responsible Business Conduct with the support of the Moscow Chamber of Commerce and Industry. The prize in the Responsible Business nomination was awarded with the wording “For the contribution and development of responsible business with the involvement of young people” for the project “Recycling Ambassadors”.
Maria Tyukaeva, the manager of the project, presented the achievements and plans for her area of work. On the initiative of Andrey Lugovoy, a deputy of the State Duma of the Russian Federation, a decision was made to actively involve young people in the agenda. The project is aimed at popularising environmental aspects of economy and production among young people from 14 to 35 years old.
The event on 8 December 2023 was co-organised by Rusmet Rating Agency. Rusmet RA carries out extensive information and analytical activities in the field of scrap procurement and metallurgy.
Thus, the agency is preparing an extensive publication dedicated to metallurgy and the sphere of ferrous, non-ferrous and precious metals scrap and waste handling. The business guide will provide information on legal, economic and regulatory aspects, as well as current trends in pricing and price indices. In addition, there are sections with questions on pricing and formation of price indices, balances of ferrous and non-ferrous scrap and metal markets.
The publication includes sections on the history of the industry development in Russia, the industry’s impact on decarbonisation and current changes in regulation. It provides an overview of market regulation in global practice, including legal aspects and methods of scrap involvement in circulation.
Joint special project of RUSLOM.COM and Chamber of Commerce and Industry of Russia
“Recycling Ambassadors” is being piloted in the most investment-attractive regions of the country
As part of the Day of the Saratov Region at the Russia International Exhibition and Forum on 6 December 2023, Victor Kovshevny and Maria Tyukaeva took part in a plenary session chaired by the Governor of the Saratov Region Roman Busargin.
The discussion was also attended by representatives of the Chamber of Commerce and Industry of the Russian Federation (including the Council for Ecology and Development of Circular Economy), representatives of the Russian Ecological Society, representatives of JSC Rosenergoatom, PJSC Sberbank, LLC Novostal-M, and JSC Apatit,
Association’s Director Victor Kovshevny spoke about the investment and environmental potential of the scrap collection and metallurgical sectors of the region.
Maria Tyukaeva, head of the joint special project with RUSLOM.COM “Recycling Ambassadors”, made proposals for cooperation in attracting young people to the Saratov region (joint development of industrial tourism, personnel strategic policy, organisation of a youth festival).
Lead industry issues discussed at meeting with RUSBAT and RUSLOM.COM associations
In contrast to other metal markets, where there is a large inflow of primary raw materials into the turnover during the formation of metal stock, the lead market is 95% formed by processing lead scrap. 80% of secondary raw materials are used for the production of batteries and lead-coated cables.
Representatives of the industry believe that the licensing of lead exports, introduced from May to November 2022, has shown that domestic demand cannot cope with such volumes of produced products, and exports just solve the problem of high supply and lower prices for products due to their oversupply in warehouses, when factories were idle and eventually were forced to sell at a loss.
It is important to stimulate exports, but there should not be unlimited exports. The issue of introducing licensing in 2024 should be considered taking into account the opinions of market participants.
They discussed the problem of so-called “black ovens”, of which there are about 300. Such “businessmen” do not pay VAT and do not comply with environmental requirements, pouring electrolyte during battery recycling into the ground. And while they virtually withdrew from the market in 2022, once lead exports gradually recover in 2023 and prices start to rise systematically from October, we should expect them to return to their illegal activities.
The industry needs quality regulation, which will allow capacity utilisation and earnings for producers by sending surplus to export, support interest in scrap harvesting by preventing the abandonment of hazardous raw materials and cut off the oxygen to grey recyclers who break the law and cause huge damage to the environment.
NEWS OF RUSSIAN SCRAP PROCESSING
Russia extends export quota for ferrous scrap and waste metals for six months
Quota will be 600 thousand tonnes.
The government has decided to extend the quota for the export of ferrous scrap and waste to countries outside the Eurasian Economic Union. Such measures will be valid until 30 June 2024, the quota will be 600 thousand tonnes, reports the press service of the Cabinet of Ministers.
When exporting ferrous scrap and waste within the quota, the customs duty will be 5%, but not less than 15 euros per tonne, in excess of this – 5%, but not less than 290 euros per tonne.
The government believes that such a decision will help to ensure the supply of strategic raw materials to domestic metallurgical enterprises. Temporary export duties on ferrous and non-ferrous metals were introduced in Russia in 2021-2023 against the background of rising world prices for these products. This made it possible to mitigate the impact of the external environment on the domestic market and adjust the prices of raw materials.
Arctic without scrap
From 2021 to 2023, the Clean Arctic project was implemented in Yakutia, involving more than 300 volunteers and covering an area of 31 hectares. The collection of scrap metal amounted to about 850 tonnes. The project was first launched in the Bulunsky District, where a clean-up day in the village of Tiksi collected and removed about 300 tonnes of scrap metal and cleaned up an area of 8 hectares.
Later in 2022, three more campaigns were held in the Bulunsky and Ust-Yansky districts, during which the participants rid 5 hectares of land of 200 tonnes of scrap metal. And in 2023, similar initiatives were repeated. For example, more than 27 tonnes of metal were removed in the village of Zhigansk.
In April 2023, the Yanolovo company organised the transportation of collected scrap metal from the Ust-Yansky district, delivering 40 tonnes for further processing. A further 140 tonnes are awaiting shipment in the 2024 navigation season. However, despite the successes, transporting the collected scrap metal is proving to be a difficult task.
Victor Kovshevny, Director of the National Recycling Association RUSLOM/COM and chief analyst at Rating Agency Rusmet, has repeatedly noted that the situation regarding the collection of hard-to-reach scrap metal in the Arctic zone of Russia is an acute environmental and economic problem. According to Rusmet data for 2022, the efficiency of scrap metal collection in Russia was 2.5 times lower than in developed countries. The EOL-RR (the percentage of waste that was collected and recycled) in 2021 was 39%, but in 2022 this figure dropped to 26%. The total amount of ‘old’ scrap generated was 53.9 million tonnes, but only 14 million tonnes were collected.
Cleaning up the waters of the Sakhalin Oblast
Five hundred tonnes of scrap metal were reported to collected and sold, the proceeds of which went to the Sakhalin Oblast budget. This is just a small part of the “General Clean-up” project aimed at cleaning up port water areas, improving the safety of navigation and raising the environmental profile of the region.
This year all plans for lifting wrecks in the Sakhalin Oblast were fulfilled, and next year it is planned to lift 22 more vessels. The federal and regional budgets have already allocated 300 million roubles for this purpose.
In addition, the problem that has been bothering the residents of Kholmsk for many years has been solved. The sunken foreign vessel Xing Yuan blocked the coastal zone, creating a lot of inconveniences. But recently they managed to remove it from customs control, and next season they plan to raise it, utilise it and scrap it.
RUSMET RATING AGENCY INDICES
The Weekly Rusmet Index for Steel Scrap 3A FCA Russia domestic on 51st week 2023 (18 – 24 Dec) settled at 24 250 RUB/mt (ex VAT). The Index decreased by 150 RUB/mt (-0,6%) compared to previous week.
For 51st week 2023 (18 – 24 Dec) Rusmet Billet Index FOB Black Sea settled at 46 092 RUB/mt (up 0,3%), Rusmet HRC FOB Black Sea Index settled at 52 274 RUB/mt (down 2,5%), Rusmet CRC FOB Black Sea Index settled at 64 092 RUB/mt (down 1,9%), Rusmet Rebar FOB Black Sea Index settled at 44 455 RUB/mt (up 0,2%).
Rusmet Coal FOB Australia (62% CSR) Index compared to previous week increased by $2 (0,7%) to 273$/mt, Index for Coal FOB Australia (70% CSR) compared to previous week decreased by $7 (2,1%) and is equal to 320$/mt.
METALLURGY NEWS OF RUSSIA
Process and technology optimisation in mining
In the digital age, companies around the world are actively integrating innovative solutions to optimise production. Karelsky Okatysh, part of Severstal, is introducing a new integrated project called Digital Quarry, which will implement modern technological solutions at its production sites.
One of the key tasks is to equip specialised machinery, especially excavators, with advanced digital systems. These machines have been equipped with a vision system that allows effective monitoring of the condition of the bucket teeth, as well as a precise positioning system.
In addition to these solutions, as part of the Digital Quarry project, the company has implemented an initiative to introduce an electronic face map. The new digital tool allows operators to receive shift assignments in the form of a digital map with specified contours for more efficient mining.
Investing in new energy solutions
Under pressure from palladium demand, Norilsk Nickel is focused on developing innovations in the energy sector. The holding plans to invest more than 8 billion roubles over the next 5-10 years to develop projects in solar and hydrogen energy, as well as in the chemical industry.
Nornickel forecasts a palladium deficit of 900 thousand troy ounces by the end of 2023. This is a significant change from the previous forecast, which estimated the deficit at 200 thousand troy ounces.
The company’s bet on new energy products is intended to compensate for the fall in demand for palladium. Norilsk Nickel is completing research on photocells based on palladium chalcogenide, expecting to bring pilot samples to market by the end of 2024.
Logistics and future of non-ferrous metals
Non-ferrous metals transshipment volumes through Russian seaports will decrease in 2023. The reason is not only sanctions, but also overloading of railway infrastructure with other cargoes.
The way out of this situation can be seen by increasing the level of containerisation of non-ferrous metals. This will allow for more efficient transport management and reduce dependence on overloaded railway network.
Despite sanctions, Russia continues to play a key role in the global non-ferrous metals trade. Exports of these materials to unfriendly countries fell from 70% to 23% in the first 9 months of 2023.
Russia is also an importer. The share of copper imports reaches 40%, aluminium – 25%. Imports of copper and aluminium are forecast to increase this year.
Domestic production of non-ferrous metals is also actively developing. Aluminium production reaches 4 million tonnes per year with domestic consumption of 1 million tonnes. According to the chairman of the Aluminium Association, Russian companies plan to increase domestic aluminium sales to 1.5-2 million tonnes per year by 2030.
However, according to data for January-September 2023, the transshipment of non-ferrous metals through Russian seaports fell by more than 15% to 2.48 million tonnes. The decline was seen across all basins, except for the Far East basin, which saw an increase of a quarter.
MetResearch analytical agency forecasts that global non-ferrous metals trade will grow to $250bn per annum by 2030, a one-third increase on previous figures.
Increased containerisation of non-ferrous metals will help improve their logistics. Reducing rail transport in favour of container terminals in the South and Far East will facilitate more efficient delivery.
From China to Russian companies
The Bystrinsky Mining and Processing Plant in Russia’s Far East has shipped its products to a Russian company for the first time in two years. This information was confirmed by Zhargalma Badmazhapova, Acting Minister of Economic Development of Transbaikal, noting that the plant had previously shipped concentrate to China.
According to the report, Bystrinsky Plant sent iron ore concentrate to Evraz for the first time in the last two years.
In June, Russian President Vladimir Putin signed an order to transfer the Bystrinsky Mining and Processing Plant from Cyprus-based GRK Eastern Geology to the Chita-based holding company Bystra. The project is one of the largest in the Far East with a processing plant capable of processing 10 million tonnes of ore per year. The plant mines gold-copper-iron ore and produces gold, copper and iron ore concentrates.
Importantly, the Transbaikal Division accounted for 17% of Nornickel’s total copper output in 2021.
Construction of coal terminal on Sakhalin
The construction of a coal terminal in the Uglegorsk district of Sakhalin Oblast, carried out by the East Mining Company (EMCO), is in its final stages. With the installation of all major elements and equipment in the third section completed, only the final steps of the project remain to be completed. The facility is expected to be commissioned in 2024 and to bring significant benefits not only to the sector, but also to the environment of the region.
The project was launched in 2018 and since then the investor, East Mining Company, has been actively working on the coal transportation system. The total investment in the project is estimated at more than 7 billion roubles.
The coal conveyor will be part of a more cost-effective and environmentally friendly transport system linking the Solntsevsky open-pit mine and the Shakhtersk seaport. The launch of the conveyor will significantly reduce road congestion in the Uglegorsk district and minimise emissions of pollutants during coal transportation.
MACROECONOMIC NEWS OF RUSSIA
Russia abolishes export duties
The signing of the minutes of the meeting of the Government Sub-Commission on Customs Tariff and Non-Tariff Regulation, Protective Measures in Foreign Trade, confirmed by Russia’s First Deputy Prime Minister Andrei Belousov, excludes several goods from the scope of exchange rate export duties. These changes are expected to come into force in the second half of January 2024.
According to the announcement, a number of goods have been singled out among those that will not be subject to exchange rate export duties, including metal products, tools for drilling, pressing and other technological goods.
The Secretariat emphasised that the proposals underlying the changes had been developed in consultation with business representatives in order to support export operations and ensure acceptable levels of business profits.
The exchange rate export duties, introduced on 1 October, applied to a wide range of goods, including mining products, metals, precious metals, coal and fertilisers. The measures were said to be temporary and aimed at protecting the domestic market.
How much has been collected thanks to the export duties?
Export duties came into effect on 1 October this year. Starting from that date, the duties began to apply to a wide range of goods, including mining products, metallurgy, precious metals, coal and fertilisers.
Budget revenues from the export duty system have already totalled 117 billion roubles. Daily payments of customs duties to the budget reach 29-30 billion roubles.
The amount of duty varies from 4 per cent to 7 per cent depending on the rouble-US dollar exchange rate. Starting from the rate of more than 80 and less than 85 roubles per dollar, the duty was 4%. At the level of 85-90 roubles per dollar, the rate rose to 4.5%, and at the rate from 90 to less than 95 roubles per dollar – up to 5.5%. At the rate of more than 95 roubles per dollar and above, the duty reached 7%.
According to documents related to the federal budget for 2024 and the period of 2025-2026, the government expected to collect an average of about 50 billion roubles per month due to exchange rate duties. At the same time, goods with a high share of imported components in the cost price, as well as products of high processing categories, were excluded from the export duties.
CONTACT:
Alexey Kondratyev Director, Public Relations National Recycling Association RUSLOM.COM Address: 119017, 50 building 1, office 1/1 Bolshaya Ordynka St., Yakimanka Municipal District, Moscow, Russia Phone/fax: +7 (499) 490-49-28 Mobile: +7 (903) 363-53-93 E-mail: a.kondratiev@ruslom.com
