Russian minister suggests metals companies raise prices slower

MOSCOW, Feb 17 (PRIME) -- Russian metal companies must raise their prices slower to allow consumers to adapt to them, Industry and Trade Minister Denis Manturov told reporters Tuesday.

“We understand perfectly well that the price will grow but it cannot jump 40% in a month or a quarter. We need to prolong the process and give companies an opportunity to adapt,” Manturov said.

On February 9, Manturov said that metal makers must come to terms over prices with their customers, mainly car producers, in two weeks. On Tuesday, Manturov said that he did not change the deadline.

End