30
Jun
14:19
Nornickel to lose $500m from Russian export duties
Russian miner Nornickel’s losses from the introduction of new Russian export duties on metals will reach $500 million, president and co-owner of the company Vladimir Potanin said after signing an agreement with the government of the Krasnoyarsk Territory.
Russia plans to introduce temporary duties on the export of non-ferrous metals at least 15% from 1 August to 31 December. Export duty rates for copper will be $1,126/tonne and nickel $2,321/t.
Potanin…
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Very good overview of the weekly steel market.
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