The state budget revenue from export of scrap metal has tripled, head of the Verkhovna Rada Committee

The Ukrainian budget has received three times more money from the export of scrap metal (343 million instead of UAH 112 million UAH) for the next year of the increased duty on exports of raw materials from Ukraine. This was announced by the head of the parliamentary Committee of the Verkhovna Rada on issues of industry Viktor Galasyuk on his page in Facebook.

“A very positive impact on our Oleg Lyashko “metal law” about increase of export duties for scrap tripled (from 10 to 30 euros / t). The state Budget revenue from export of scrap metal has tripled – from 112 up to 343 million UAH million UAH”, – wrote Galasyuk.

The head of the Committee noted that over the next year the act the shortage of scrap to Ukrainian steel mills decreased by 40% (from 725 THD. MT to 425 THD. MT).

According to the Galasyuk, the act raised duties on the export of scrap metal should continue.

As previously reported, Ukraine until 2016, experienced an acute shortage of scrap, which led to reduced production and stop of Ukrainian enterprises.

At the moment, Ukraine has export duties on the export of scrap metal from Ukraine. However, this year their action must end.