US Steel Kosice is to increase prices
According to reports from the industry
US Steel Kosice (USSK) based in
Slovakia announced last week that they are going to effect a price increase of at least €40 per ton for all types of its flat products. This increase will be applied on all shipments from April 1, 2004 onwards.
In the meantime, dispute between
Slovakia and the EU over excessive
production of USSK is still not settled.
Slovakia, which will enter the EU in May this year, previously agreed to limit increases in steel
production to 3% per annum against a long term tax exemption. However, the increase in
production in 2002 was determined to be 8% and for 2003 this rate is expected to be around 12%. Early this year
Slovakia confirmed that the government accepted to compensate excess steel
production in terms of cash and reduction in state aid.
In case the dispute is not resolved until
Slovakia's accession to the EU, European Commission will have the right to bring the case to court.