Page 11 - May

NEWS
Authorities will discuss "metal" interventions to

regulate prices

Andrei Belousov, First Deputy Prime
Minister and Yuri Borisov, Deputy Prime Minister,
who oversees the industry, instructed to discuss
the possibility of creating a mechanism for
regulating metal prices by creating reserves in
Rosrezerv with subsequent sale during a price
surge. They gave the instruction to work out this
option to the Ministry of Industry and Trade, the
Ministry of Finance and the Federal Reserve, a
representative of Belousov said.
The possibility of price interventions in the metal market is one of
the issues that was discussed at the meeting "On the current situation
with prices for metal products and measures taken to regulate it", held on
Tuesday, April 27. According to the representative of Belousov, the reason
was "a sharp rise in prices for metal products and rolled metal products in
Russia (fittings, sheet and shaped metal, pipes, etc.), which to about
30% as of late 2020 - early 2021."
As RBC wrote earlier, the largest metallurgical companies themselves
recently offered to give discounts on metal for state construction
projects. Anatoly Sedykh, the chairman of the supervisory board of
Russian Steel and the owner of the United Metallurgical Company, wrote about
this to Minister of Industry Denis Manturov on April 19. Metallurgists expect
from the Ministry of Construction a list of large social and infrastructural
state construction projects financed from the federal budget for 2021, as
well as a list of types and volumes of rolled metal, customers for each facility,
with which such contracts will be concluded on special terms. The
volumes of supplies of metal products will be distributed among the
enterprises belonging to the Russian Steel Association,
taking into account their capabilities and geographical
presence.

RBK

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