Colombia implements scrap export restrictions
14 Sep 2021 16:36 reported by Claude Tseng
The Colombian government has imposed restrictions on the export of scrap since September 9. Due to the reduced supply in the local scrap market, it was recommended to adopt a scrap export quota.
The Colombian Ministry of Industry and Trade stated that the purpose of this measure is to ensure the supply of raw materials, which is quite essential for the country steel industry.
This measure is fully in line with the country's multilateral commitments, and the World Trade Organization (WTO) allows such measures to be taken temporarily to prevent or control shortages of basic products.
The scrap subject to export quota belongs to HS codes 7204.10.00.00, 7204.21.00.00, 7204.29.00.00, 7204.30.00.00, 7204.41.00.00, 7204.49.00.00, and 7204.50.00.00. This measure is valid until September 2022.
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