The export of ferrous metals from Russia from January to July 2021 increased by 18.3 percent compared to the same indicators of last year – up to 27.9 million tons. In July, exports amounted to 7.1 million tons – 94.2 percent more than in June. This is stated in the report of the Federal Customs Service (FCS).
In just the first seven months of 2021, foreign importers paid $ 17 million for Russian ferrous metals, 5.1 million in July. A sharp increase in export deliveries in July coincided with the decision of the Government of Russia to introduce duties for the export of products of Russian metallurgical companies from August 1.
At the end of May, Deputy Prime Minister Andrei Belousov accused Russian metallurgists in the “fattening” state for 100 billion rubles. According to him, since the beginning of the pandemic, metallurgical companies have greatly increased revenues by increasing prices in the domestic market. He stated that the metallurgists obtained from the extensibility should be returned to the budget in the form of taxes. The introduction of customs duties on the removal of raw materials from August 1 to December 31, thanks to which the budget will receive about 113-114 billion rubles.
The manufacturer of aluminum “RUSAL” rated losses from the introduction of fees in hundreds of millions of dollars. The company warned that the production of some types of products will be unprofitable. Some factories will stop working at full capacity, which will lead to the relevant consequences, explained in the “RUSAL”.