Additional revenue of the budget from the scrap export duty increase to 30 euro per ton exceeded 1 billion UAH.
“One billion is a very pessimistic estimate of additional income of the budget. We believed that one ton of scrap processed and sold yields 7-8-fold more than just scrap”, Ukrmetallurgprom president Alexander Kalenkov said.
According to him 80% of Ukrainian scrap goes to Turkey, which has a duty of 26% on scrap from Ukraine.
He said that scrap business in Ukraine remained advantageous despite the duty.
“The purchasing price in Q1 was $219-235 per ton. That’s more than metal makers earn now”, he added. (Ukrainian metal)