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…
The start of the metal exports via sales at an exchange, scheduled for January 1, 2020, could be postponed. The corresponding draft decree has been sent to the government. In particular, the Ministry of Industry and Trade wants the exchange sales not to start in 2020, but wants some kind of a transition period. The…
AVA-Trade LLC aluminum works was not able to contest additional taxes of over 23.9 million rubles and a fine of 1.4 million rubles. The company filed a suit to the court demanding to cancel the decision of the Tax service. The service found violations of the tax legislation and decided to impose additional taxes of…