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MMK

December 2, 2004

MMK is not going to raise prices yet

Information on the ongoing substantial ex-works price raise for the MMK’s steel products in next December, published in the hot lines of certain information agencies, has nothing to do with the truth.
  
Recently various mass media carried the news that from December this year the Magnitogorsk Iron & Steel Works was going to raise prices for its products by 20%. According to Boris Dubrovsky, Director for Domestic Sales this information id not true. Says Mr. Dubrovsky: “In reality there is going to be a price correction for certain price groups, which will not affect the average price of the products. Thus, for example, price increase for the flat products will constitute 2,5 per cent. At the same time the prices for the long products will go down. In this way the average price for the ex-factory steel products will remain approximately on the same level’ – continues Mr. Dubrovsky.
   It is not the first time that the information on the price surge at the Magnitogorsk Iron & Steel Works reiterated in the mass media is inauthentic. In particular, many information agencies announced that MMK’s prices in October would increase by 15-20%, though in reality the increase did not go over 5%.

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