Antitrust says prices for metals products rise 15–30% in Jan–Mar

MOSCOW, Mar 10 (PRIME) -- Prices for metals products on the Russian market grew by 15–30% in January–March, head of the Federal Antimonopoly Service Maxim Shaskolsky said on Thursday at a meeting of the parliament’s lower house State Duma.

“The market of metals products experiences a serious increase in prices in the first quarter of 2022. Prices for the basic types of metal products grew by 15–30% from January through March 2022,” he said.

Prices for iron ore raw materials, coking coal and ferrous metals scrap have been rising since December 2021. Prices for raw materials are following international ones, and some raw materials can only be imported by Russia, like manganese, chrome or ferroalloys.

The increase in international prices, dynamics of the ruble’s exchange rate, uncertainty on the market, high demand, and low access to imported equipment and components for it contribute to the growth in prices in Russia, he said.

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