Procurement of scrap metal, a major commodity in post-Soviet economies, is up 43% yoy,

to 2.35 million tons, reports the Ukrainian Association of Secondary Metals, or UAVtormet. Exports, largely to Turkey, are up 19.5 times yoy, to 334,600 tons. Supplies to Ukraine’s steel mills increased 23%, to 1.9 million tons. In May, President Zelenskiy signed a law extending Ukraine’s €58/ton export duty on scrap for another five years. According to supporting materials for the law, each ton of recycled scrap metal saves 1.5 tons of CO2, 1.4 tons of iron ore and 740 kg