Russia may Apply New Export Tariffs on Nickel, Copper since December 2010

As announced by Deputy Minister of Economic Development of the Russian Federation, Andrey, Russia may apply new export tariffs on nickel and copper since December 2010.

As proposed by the Ministry of Economic Development of the Russian Federation, export tariffs on copper shall be set at zero when the dealing price reaches USD 3,000 per ton; be set at 5% when the dealing price reaches USD 3,750 per ton; be set at USD 187.5 plus 15% when the price reaches USD 5,000 per ton; and be set at USD 375 plus 30% when reaching USD 5,000 per ton.

As to the export tariffs on nickel, zero tariff shall apply when the dealing price reaches USD 12,000 per ton; 5% shall apply when the price ranges from USD 12,000 per ton to USD 15,000 per ton; USD 750 plus 15% shall apply when the price gets between USD 15,000 to USD 20,000; and the export tariffs shall be USD 1,500 plus 30% for prices over USD 20,000 per ton.

At present, Russia implements export tariffs equivalent to 5% of Customs value on nickel, and zero tariffs on copper.