Sri Lanka Bans Export of Steel & Metal Scrap
wires. The export ban is being made to boost domestic production of industries that use the scrap as raw material. The export ban is implemented to depress the prices of scrap metal to below world market levels and deny the real price to collectors and give an effective subsidy to industries that use them including large steel companies. Lower prices may also discourage collection.
Some scrap metal could be exported under a recommendation of the Industrial Development Board and other related agencies.