According to the Ukrainian association of metal producers Metallurgprom, in 2011 Ukrainian steel producers will increase their overall output of pig iron and crude steel by six percent year on year, while their overall output of rolled steel products is expected to rise by seven percent compared to 2010.
Meanwhile, Metallurgprom noted that the forecast of the steelmakers themselves is more optimistic - for a 12 percent rise in pig iron output, a 13 percent increase in crude steel output, and a 16 percent expansion in rolled steel product output.
According to Metallurgprom data, in 2010, Ukrainian steel producers produced 27.345 million mt of pig iron, 32.726 million mt of crude steel and 30.68 million mt of rolled steel products, up seven percent, 10 percent and 10 percent respectively compared to 2009.
Egyptian traders believe prices will increase further because of raw material shortages and price increases. Consequently, the buyers will increase their buying because there is need, they believe.