Looming new Russian export tax to bear on coal miners' revenue, metal sales

Pig iron, steel products and metallurgical coal will all be subject to new floating export duties to be imposed by Russia from October 1 until the end of this year, Fastmarkets heard on Friday September 22.

The Russian government announced the duties on September 21. As well as affecting metal products, they will also affect the revenues of miners, Fastmarkets was told. Russia will implement a 4%...