[Ferro-Alloys.com]Reuters reported that Russia is preparing new export taxes for steel products, nickel, aluminium and copper which will cost their producers USD 2.3 billion between August 1 and December 31 as it wants to protect its defence and construction industries from further growth in raw materials costs as prices for metals rise at a global level. Russia’s First Deputy Prime Minister Mr Andrei Belousov said “Our economy is not ready for the kind of avalanche-like shock transfer of global prices to the domestic market that we have seen over the past year. The increase in domestic prices for certain metals ranged from 60% to 100%. Taxing ferrous metals such as steel will bring in 114 billion roubles (USD 1.6 billion), and base metals such as nickel and aluminium 50 billion roubles. That represents 20-25% of the excessive income firms will get from a favourable market.”

• [Editor:李慧]