01
Oct
15:23
Russia to collect additional $7.5 billion from steelmakers
The Russian government has submitted to the lower house of Parliament proposed changes to the mineral extraction tax (MET) for Russian metallurgical companies from 2022, according to a draft federal budget published on Thursday.
Russian authorities and steelmakers have reached an agreement to set the excise tax rate on liquid steel from 2022 at 2.7%, and the MET on iron ore at 4.8% and on coking coal at 1.5% (see Kallanish passim).
Resulting budget revenues are e…
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Anonymous
Very good overview of the weekly steel market.
Anonymous