Russian Pipe Companies to Raise Prices

Russian pipe companies will increase their sales prices by 10 percent on average by the middle of 2003, chairman of the board of directors of the Chelyabinsk Tube Rolling Plant Andrey Komarov, who is also co-chairman of the Foundation for the Development of Pipe Industry, stated at a press conference today. According to him, the trend of a quarterly price increase by metal works will be preserved; eventually, pipe companies will have to raise prices, too. However, in the event an agreement is reached, this level could be decreased.

Since the summer of 2002 and until now, Russian metal companies twice increased prices by 5 to 20 percent on average.