Russian steelmakers are proposing to index the cut-off price used to calculate the excise tax on steel, which was set at 30,000 rubles per tonne in 2022, by accumulated inflation over the past four years, Severstal CEO Alexander Shevelev said in an interview with Interfax on the sidelines of the St. Petersburg International Economic Forum. "We have submitted our proposals to the relevant ministries. They are still being discussed. We don't know what the final decision on the excise will be," ...

The Russian Steel Association expects steel exports to increase by 2.5% in 2025, the association's president Alexey Sentyurin said at the "Scrap of Ferrous and Nonferrous Metals" Forum. “In 2021 we shipped maximum volumes for export of 31 million tons, they had to be reduced last year to 20 million tons - that's a minus of almost 35%. This year, given the months that have already passed, we hope that exports will maintain the increase in rates, so for the year, we think we will be able to increase ...