Metallurgists are threatened with scrap metal export embargo.
Edited by Rhod Mackenzie / 2015-02-19 06:27:13
Finance Metals and mining Russia Magnitogorsk metallurgic plant MMK Novolipetsk Steel NLMK Russia Metals and Mining Legal Steel
The RF Ministry of Industry proposes to ban its export from Russia.
The RF Ministry of Industry is ready to temporarily ban the export of scrap metal to encourage steelmakers to reduce the prices for domestic consumers. The industry participants themselves believe that the return on the market of only 13% of the scrap metal will not affect the prices, but may lead to the EU countries importing Russian scrap metal closing their markets for steel products from the Russian Federation. The analysts believe the price cuts are inevitable, if only the dealers do not intervene into the supply chain, but the risk of new restrictions on foreign markets is also real.
