Russia's Ministry of industry and Trade said the government may impose more restrictions on scrap exports after monitoring the impact of the latest measures taken in February.

In December last year, at the request of the Russian steel pipe industry development foundation (FRTP), the Russian Ministry of economic development agreed to raise the scrap export tariff from 15 euro / ton to 45 euro / ton for six months, in order to ensure the raw material supply of local steel plants and curb the price rise in the domestic market.

Meanwhile, last week ruslom, the Russian scrap metal association, asked domestic steelmakers to refuse to impose tariffs, arguing that export tariffs on steel products could lead to higher local product prices.