08
Oct
15:49
MMK, Metalloinvest lose from tax hikes, investments continue
MMK finance director Maria Nikulina says the company may lose around $200 million as a result of the excise duty on liquid steel from next year.
Russian authorities and steelmakers reached an agreement to set the excise tax rate on liquid steel from 2022 at 2.7%, and the mineral extraction tax (MET) on iron ore at 4.8% and on coking coal at 1.5% (see Kallanish passim).
“The potential impact on MMK from the introduction of excise tax primarily depends on the…
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Anonymous
Very good overview of the weekly steel market.
Anonymous