No firm date was given for the introduction of the planned changes.
The Russian government introduced duties on 340 steel and non-ferrous metals outside the Eurasian Economic Union (EAEU) in June 2021, with the tariffs coming into effect from August 1 and lasting until December 31
The duty base rate was set at 15%, with a specific rate of $150 per tonne on ferro-alloys such as ferro-titanium. The move was the latest in a series of steps by countries around the world to tackle surging prices for raw materials and other key goods.
Responding to industry concerns, the latest official government notification
, published on the government website on Tuesday, proposes to abolish export duties on ferro-titanium, ferro-molybdenum, ferro-tungsten, ferro-niobium and iron powder.
The notification proposes to cut export duties for ferro-chrome and ferro-manganese. In relation to ferro-chrome the export duty rate on high-carbon would be 5%, but not less than...