The Ministry of Industry and Trade does not discuss the extension of export duties on metal products

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Metallurgical enterprise Uralskaya Kuznitsa - 1920, 28.11.2021

MOSCOW, 28 Nov – The RF Ministry of Industry and Trade is not discussing the issue of extending export duties on metal products, the press service of the ministry said.
Last week, AvtoVAZ appealed to the Russian government, in particular to the Ministry of Industry and Trade, with a request to extend export duties on metal products until 2022 in order to avoid an explosive rise in steel prices and, as a result, on cars.
“As for the extension of export duties on metal products, the issue is not being discussed in the Ministry of Industry and Trade,” the press service said.
At the same time, the ministry noted that the formation of selling prices for cars depends on many factors, including prices for metal products, semiconductors and logistics, but the decisive factor among all factors in conditions of a shortage of goods is the balance of effective supply and demand.
According to Rosstat data, cited by the Ministry of Industry and Trade, passenger cars in Russia in October rose by 11.5% versus December 2020.
The government introduced duties on the export of ferrous and non-ferrous metallurgy products from Russia outside the EAEU countries for the period from August 1 to December 31, 2021. For most types of products, duties consist of a base rate of 15% and a specific component.

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