The Verkhovna Rada committee on economical development has approved of a draft bill No. 2426 on amendments to some bills on de-shadowing of metal raw materials market and operations with metal scrap. At present some 80% of the scrap market are in the shadow. “With this bill we create the opportunity to bring some 16…
The Federal Antimonopoly Service has suggested selling all the scrap of state companies via exchanges. Since state companies are not always involved in procurement, the Service suggests purchasing services to process and sell scrap at auctions organized by commodity exchanges. The Service also plans to create a single electronic system on scrap. This is not…
Lithuanian and German law enforcement detained 30 suspects in operation targeting illicit traders in precious metals, with over 1 million euros seized in cash. “Coordinated measures have been taken in Germany and Lithuania, officers have seized 1.03 million euros in cash,” Darius Valkavičius, a chief prosecutor at the regional prosecutor’s office in Kaunas, Lithuania’s second-largest…
In October Ukraine procured 254 thousand tons of scrap, up by 7% MoM. All the scrap procured was supplied to domestic metal companies. In January-October scrap procurement decreased by 13%, to 2.635 million tons. Deliveries to Ukrainian companies dropped by 5%, to 2.594 million tons, and exports – by 87%, to 41 thousand tons. (Ukrainian…
The Verkhovna Rada intends to bring the operations on the ferrous scrap market out of the shadow. This will help attract some 900 million UAH of additional taxes and payments to the state budget. 80% of the Ukrainian scrap market operates in the shadow. In 2018 the shadow market volume amounted to 16 billion UAH.…
In January-October Ukraine exported 40.736 thousand tons of ferrous scrap valued at $11.31 million, down 7.8-fold and 9.1-fold YoY respectively. According to the State Fiscal Service, in October 103 tons of scrap were exported, in September – 3.551 thousand tons, in August – 155 tons, in July – 204 tons, in June – 208 tons,…
In August Russia exported 12.7 thousand tons of corrosion-resistant steel scrap valued at $14 million, down by 42.6% and 33% YoY respectively. In January-August exports grew by 11.8%, to 82.5% YoY, valued at $87.4 million, up by 6.7%. In August the average price was $1090 per ton. 80% accounted for scrap with nickel content of…
In September scrap procurement grew by 6% MoM, to 238 thousand tons. Of this local metal companies received 235 thousand tons, up by 4%, and 3 thousand tons were exported (no exports in August). In January-September of 2.381 million tons of scrap procured (down by 13% YoY) 2.34 million tons were supplied to local metal…
The government has postponed from January 1 to April 1, 2020 the implementation of the scrap exports only via stock exchanges. At the same time the quota on the export of metals will expire on December 31 and will not be prolonged. The officials believe the exchange trade will improve transparency of the scrap market.…
In January-September Ukraine exported 40.63 thousand tons of scrap, down 7.6-fold YoY, valued at $11.27 million, down 8.9-fold. According to the State Fiscal Service, in September Ukraine exported 3.55 thousand tons of scrap, in August – 155 tons, in July – 204 tons, in June – 208 tons, in May – 8.09 thousand tons, in…