Domestic Steel Prices Increasing.

Mittal Steel Kryvy Rih (KSTL: BUY) announced that due to growing costs for inputs and rebounding world steel prices it was raising its domestic sales price for its metal by $48/mt. Three other steel producers including Zaporizhstal (ZPST: Suspended) said they were planning similar price increases. KSTL earlier raised its domestic prices on June 1 by $25 mt. KSTL, Ukraine’s largest steel producer, accounts for roughly 25% of Ukraine’s domestic steel market. Andriy Gostik: Mittal’s moveis consistent with its strategy to retain profits within KSTL which had previously been shared with traders. Other steelmakers appear to be following Mittal’s lead.