31 May 2010 15:37

Disputes with steel-makers resolved, long-term contracts expected soon

MOSCOW. May 31 (Interfax) - Russian Prime Minister Vladimir Putin said there were no serious rounds for sudden growth in steel prices for domestic consumers, that recent disputes with steel producers over prices had been resolved and that long-term contracts ought to be signed with consumers soon.

"We couldn't have passed by the unseen plans by steel producers to raise their prices for domestic consumers. We think there are no serious grounds for such price increases," Putin said at a conference on pricing and tariffs.

"The biggest steel consumers and producers could revert to the practice of long-term contracts with a set price formula to rule out sudden price growth," Putin said.

The government has held intense consultations with steel makers and their customers, he said. "Mutual understanding has been reached and the disputes that have arisen have been resolved. I'm asking for those understandings to be written down soon," he said.