KIEV, Feb. 2 – Due to the lack of a positive global steel market, Ukrainian metal companies have to compensate for gas price hikes using their own resources, according to Ihor Syry, the director general of Metinvest, Ukraine's biggest mining holding.

"The price has risen by UAH 800 per 1000 cubic meters, which is around $100 million according to the current exchange rate. Our consumption is over 1 billion cubic meters annually. So such price trends mean another $100 million [in costs] for our company, he said to Interfax-Ukraine agency.