copper | 15 August 2011 г. | 00:01

Russian Government plans to change copper export duty

Russian Government plans to change copper export duty

On August 11, 2011 First Deputy Prime Minister Viktor Zubkov held a meeting of the Sub-Commission for Customs Tariff and Non-Tariff Regulation and Protective Measures in Foreign Trade under the Government Commission for Economic Development and Integration.

The meeting participants agreed on the export customs duty on pure copper. There will be no charge on copper exports on condition that the set stock market price is lower than $6,000. The current 10% duty rate is charged when the stock market price of pure copper ranges between $6,000 and $8,000 per tonne. If the price exceeds $8,000, the duty is calculated the following: $800 + 30% of the difference between the current price and the upper duty limit ($8,000) per tonne.

Source: Metal Supply and Sale Magazine
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