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Business news, 02.07.2002 15:02

Prices on SEVERSTALí products Up 6-15%

Prices on SEVERSTALí products Up 6-15% As a consequence of the tariff increase on natural monopoliesíservices and on raw materials SEVERSTAL moved up prices on its products from 1 July declaring that the growth will be in the range of 6-15% dependent on assortment.

Anatoly Kruchinin, SEVERSTALí General Director, complained unfavorable conjuncture on markets and unsimple situation in metal-consuming sectors overall had not allowed for a long-time to compensate the fact of tariff increase. In particular he marked that in comparision with the last year petrolium products have already deared twofold, metal waste on 10% and finally natural monopolies servicesí increase means increase in payments toGazprom, RAO EAS and MPS this year already on 60 mln $$.

In explaination he concluded that looking at the price level the company mainly returns to its level of January 2001.

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