October 07, 2008

Russian government likely to control rising steel prices

It is reported that with the day by day aggravation of inflation and the domestic steel price rising so quickly Russian government is likely to take a number of actions.

The Russian government will probably attempt to control the steel price, putting restraint on prices of raw materials provided to the steel plants. The capital investment plan in Russia brings the opportunity for steel factory development this year, especially in relation to the infrastructure of steel consumption.

The Russian Automobile Association has already required the government’s antitrust organization to investigate this year’s steel price which has risen by a wide margin.