Business
Dunaferr optimistic in light of rising steel prices
Steel maker Dunaferr Rt is expecting a profit in 2004 for the first time in many years, Deputy CEO József Suri said. A one-time Communist behemoth struggling with its cumbersome legacy until acquired by the Ukrainian-Swiss Donbass-Duferco consortium early this year, Dunaferr's recovery has been assisted by a 150% price hike that took place over the past 1.5 years in the world's steel markets. However, while demand remains high especially in Asia's fast developing countries, machine and car manufacturers are unable to raise prices, with orders for the steel industry declining as a result, Suri explained, adding that some of Dunaferr also lost some orders. (Vg 1) P.P.
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