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  • Ukraine's President has signed a decree lifting import tariffs on scrap steel.

Ukraine's President has signed a decree lifting import tariffs on scrap steel.

Ukrainian President petro poroshenko has signed a decree to lift a 5 percent tariff on scrap metal imports, the interfax news agency reported on November 4.Sources said that on the day of the 4th, parliament received a decree signed by the President on the revision of Ukrainian customs rates.The abolition of import duties on scrap metal is part of the decree, which aims to reduce the deficit of scrap metal in the domestic market, and first to ensure the needs of the defense industry and the resumption of infrastructure construction.

On October 5th Ukraine's parliament passed a law that would impose zero tariffs on scrap metal imports and eliminate the current 5% rate.In introducing the bill, karashuk, director of the parliamentary industry committee, pointed out that the elimination of the 5% import tariff is the second step to support the national metallurgical and mineral industry.The complete elimination of import duties on scrap metal is actually the second step in the package.

From January to August 2016, Ukraine imported 15,660,000 tons of scrap steel (1,773 tons in the same period last year), mainly from Turkey (51.31% of the import amount) and Slovakia (42.10%).

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