Russian trade ministry calls on profit limits on steel products
Time:Fri, 18 Mar 2022 07:24:57 +0800
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Viktor Evtukhov, the Deputy Minister of Industry and Trade of Russia, has proposed a reduction in steel prices and a limit on profit margins at 20%-25% for steel producers and 3%-7% for traders and steel service companies to keep prices at a low level because the current domestic steel price is unreasonable.
The Deputy Minister said that the prices of all steep products should be adjusted, including contracts signed with customers and end-users, adding that only the local market will be subject to the reduced steel prices and exports will not be affected.
