Ukrainian producer Interpipe to increase prices in October

Ukrainian producer Interpipe to increase prices in October

As of October 1, 2004, Ukrainian pipemaker, Interpipe Corporation is increasing prices for its products by 20-25%, in response to increases in prices of scrap, pig iron, billet and strip. According to Interpipe's Deputy Director, Alexei Sluyusarev, additional price increases for raw materials used in pipe production are expected in the fourth quarter of this year. Sluyusarev further explains that recent increases in global steel prices, combined with the elimination of protectionist measures in Asian markets, has made exports of strip and billet more profitable, thereby boosting up domestic prices. A spokesman for Interpipe also announced that price hikes for scrap, pig iron, billet and strip could also result in a decline in output for the company, however that decline is not expected to last long. The price hikes to be implemented by Interpipe are stated to be in effect for the pipe supplied to both the domestic Ukrainian market as well as to Russia.