21:53 01.03.2016

Economy ministry approves scrap metal balance for 2016 with exports of 1.1 mln tonnes, metal companies opposed this

2 min read
Economy ministry approves scrap metal balance for 2016 with exports of 1.1 mln tonnes, metal companies opposed this

The Economic Development and Trade Ministry of Ukraine has approved the balance of scrap ferrous metal for 2016 and retained the large volume of exports of 1.1 million tonnes, which is almost the same as last year, despite of requests of metal companies and regional lawmakers to restrict imports of the strategic material due to a shortage of scrap metal on the domestic market.

The balance was approved by order No. 337 of March 1, 2016.

The foreign economic operations department of the ministry said that documents to register foreign economic contracts to export scrap metal can be submitted to the department.

The ministry told Interfax-Ukraine on Tuesday that steel smelting is set at 24.5 million tonnes for 2016, which is 6.5% up on 2015 (23 million tonnes).

It is planned to supply 3.5 million tonnes of scrap metal to the domestic market (76% of total scrap metal production) compared to 3.07 million tonnes in 2015 (71.7%).

A total of 1.1 million tonnes of scrap metal will be exported, which is slightly lower than in 2015 (1.21 million).

In 2016, it is planned to produce 4.6 million tonnes of scrap metal, while in 2015 4.28 million tonnes was produced.

Earlier representatives of metal companies and associations said that the balance of scrap metal consumption on the domestic market is not in line with the interests of the metal sector and it was drawn up on the basis of lobbying proposals of scrap metal producers.

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