The Russian government rejected a request from the Foundation for Development of Tube Industry to issue quotas for ferrous scrap export this year.
The foundation had applied for new export scrap restrictions in April 2020, referring to the shortage of the material and decrease in collection due to the COVID-19 pandemic, but the Russian government opposed the idea, as the quotas had not brought significantly positive results. In 2019, scrap shipments from Russia were restricted in September-December.
Russia’s ferrous scrap exports decreased by 3pc in January-June 2020 compared with January-June 2019 amid challenging market conditions, according to the Russian association Ruslom.com. It dropped even more, by 28pc in April-June 2020 from the same period last year.