According to Victor Galasyuk, the chairman of the Verkhovna Rada committee on industrial policy, the situation with the provision of domestic metal companies with scrap is worsening, and immediate reaction of authorities is required.
He reminded that in order to provide the stable operation of Ukrainian metal industry the Verkhovna Rada had increased the scrap export duty from 10 euro to 30 euro per ton.
“But now scrap is becoming more expensive, and the current rate of 30 euro per ton is steadily losing its protective role. The share in price decreased from 19% in 2016 to 13% in 2017. That’s why with the new “metal” decree we suggest increasing the duty to 42 euro per ton, and prolonging it to 3 years”, he wrote on his Facebook page.
This rate corresponds to the ad valorem duty of 20%.
“In China the duty is 40%, in India – over 35%, in Pakistan – 25%, while Kazakhstan until recently prohibited scrap exports entirely”, he added. (Ukrainian metal)