As of mid-March, actual price of shipbuilding steel in Russia exceeds the cost of its production two - three times. According to several steel suppliers’ bills obtained by IAA PortNews from one of the market players, one tonne of hot-rolled shipbuilding steel ranges between RUB 91,000 and RUB 156,000.
On 10 March 2022, a meeting was held at the Ministry of Industry and Trade with the metal manufacturers and traders. When speaking at the meeting, Victor Yevtukhov, Deputy Minister of Industry and Trade, said: “Today’s prices for metal products do not suit us. They should be lowered … As I can say roughly about hot-rolled steel ... the cost of production is about RUB 45,000 per tonne, therefore, welling it for RUB 72,000 is inacceptable”.
Later, after a meeting with the owners of major iron and steel works, Minister of Industry and Trade Denis Manturov said that the price for their products should be transparent and told the manufacturers provide the Ministry with pricing parameters before the end of March to prevent the state regulation. According to the Minister, the manufacturers should reduce the prices for major products making them affordable for consumers.
“Governmental directives on prices for major products are definitely less attractive alternatives,” said Denis Manturov.