Prices of raw materials for metals sector to grow in 2010, says UkrPromZovnishEkspertyza

12:56

A jump in the price of raw materials for the metals sector will be seen in 2010 compared to last year, and the price of iron ore will rise by 45% on average, the price of coking coal by 55% and the price of scrap metal by 25-30%, sector experts have predicted.

Volodymyr Vlasiuk, the director of the UkrPromZovnishEkspertyza state enterprise, and Oleksandr Krainikov, the head of the analytical department at the enterprise made the prediction at a press conference at Interfax-Ukraine in Kyiv on Tuesday.

According to UkrPromZovnishEkspertyza analysts' forecasts, steel production in the world in 2010 would be 1.36 billion tonnes - a record high. Steel production growth compared to 2009 is to be 150 million tonnes. Key factors in the said development would be steel production and consumption in China and the recovery of production in developed states (the European Union, the United States and Japan) thanks to a slight rise in real consumption and expansion of stocks at warehouses.