Export control measures on scrap metal
In September of 2013 the International Trade Administration Commission of South Africa ("ITAC") introduced export control measures on the export of scrap metal. In terms hereof scrap metal could not be exported if the scrap metal was not previously offered to the local market at 20% below the international benchmark price.
On 19 September 2014 ITAC published a notice in terms whereof it seeks comments on the current preference pricing system with a view to review the actual preference pricing system currently in place. The proposal is that the discount should either stay the same or be increased to as much as 30% of the international benchmark price, depending on the type of scrap metal.
Interested parties have four weeks from 19 September 2014 to submit comments to ITAC. A copy of the notice may be downloaded here. For any assistance, kindly contact Rian Geldenhuys.
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