It is reported that key Russian metals manufacturers intend to increase the prices by 10% on September orders.
According to a trader some companies have stopped sales and are increasing the EXW prices by 3% to 5%.
Earlier Chinese manufacturers announced prices increasing trend for September. In Russia summer heat decrease, repair works and general business rally will further metals consumption growth.
Russian metals consumers are not satisfied with the manufacturers’ pricing policy. In spring 2010 the Federal Antimonopoly Service started the unscheduled steel prices check in domestic market. It was caused by the letter of Uralvagonzavod director Mr Oleg Sienko who expressed his discontent by Evrazholding, Mechel-Steel, Magnitogorsk Steel Works and Severtstal.
According to the Prime Minister of Russia metals manufacturers have to return to long term contracts with the set price formula.