Treasury opposes surcharge on scrap metal exports, the MRA says

However, Bernard Maguire, executive member of the Metal Recyclers Association of South Africa (MRA), said on Wednesday he believes the Treasury was not in favour of the government imposing a surcharge on scrap metal exports.

While the Department of Trade and Industry this month said a "developmental steel price" was a "significant lever" to attract foreign direct investment into strategic manufacturing sectors in the country, the Treasury's stance - that export taxes could have "negative economic impacts" - may complicate this process, BDLive says.

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