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Russian steel export duties unlikely

Thu 19 Jun 2008

MOSCOW, June 19 (Reuters) - Russian government officials have opposed a request for steel export duties by oil firms that have complained of high domestic prices for steel pipes, Vedomosti business daily reported on Thursday.

Deputy Prime Minister Igor Sechin asked several ministries to look into the possibility of introducing steel export duties after meeting with oil company representatives in May.

Vedomosti, quoting sources within the Industry and Trade Ministry, Economy Ministry and Federal Anti-Monopoly Service, said the officials had concluded steel export duties would not help solve the problem of high steel pipe prices.

Industry and Trade Ministry officials instead propose long-term contracts with price formulae in the steel industry and the joint participation of steel and pipemaking firms in tenders, the newspaper said.

Other proposals, according to Vedomosti, include a temporary lifting of import duties for pipes and rolled steel as well as a revision of export duties for scrap metal. (Reporting by Gleb Bryanski, editing by Will Waterman)

Source Reuters 

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