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Eurasian Intergovernmental Council prepares list of joint measures for raw material supply of metallurgical industry within EAEU

Eurasian Intergovernmental Council prepares list of joint measures for raw material supply of metallurgical industry within EAEU

2/8/2021

At a meeting held on February 5, the Eurasian Intergovernmental Council addressed the issue of whether the Republic of Kazakhstan and the Republic of Belarus fulfill their obligations within functioning of the Eurasian Economic Union internal market – eliminating restrictions on the export of scrap and waste of ferrous and non-ferrous metals.


The Eurasian Economic Commission has analyzed the current situation in the EAEU common scrap market and drafted proposals for settling the situation. According to the study, the balances of procurement and consumption of ferrous scrap indicate no shortage of scrap metal in the Union.


Mikhail Myasnikovich, Chairman of the EEC Board, has told the same kind of thing at the EIC meeting. Russia is the original exporter of scrap metal to Belarus and Kazakhstan is the original exporter to the Russian Federation. In 2019, the mutual supply of waste and scrap of ferrous metals of the EAEU countries amounted to 2.2 mln tons totaling to 578 mln dollars. According to expert appraisal, the volume of mutual trade in physical terms decreased by 37.7% at year-end 2020 compared to 2019.


Aggravating the problems associated with shortage of scrap metal at the Union’s metal manufacturers, primarily the Russian ones, involving a significant potential for procuring scrap metals indicates the presence of structural problems in the procurement and supply of ferrous scrap within the EAEU.


In this regard, the Eurasian Intergovernmental Council’s members have discussed possible measures to settle the situation with raw support of the Union’s metal manufacturers, which includes promoting the scrap metal industry, forming the Union’s forecast balance of supply and demand for waste and scrap of ferrous and non-ferrous metals in the EAEU, unifying temporary restrictions on waste and scrap of ferrous and non-ferrous metals exported to third countries applied by the Member States at the national level and not applying restrictions of access to raw materials for metal manufacturers in the Union’s internal market.


"Today, stable progress in metallurgy is directly related not only to technological competencies, but also to the level of cooperation within the Union, the removal of obstacles and barriers, joint adoption of measures to support the industry,"
Mikhail Myasnikovich stressed.​