Ukraine export revenue from steel products dips 2% m/m in June
31 July 2013
Ukraine sold USD 1.18 bln in steel products in June (-2% m/m, -10% yoy), the Interfax-Ukraine news agency reported on July 30. The steel products portion in Ukraine’s total export revenue was 23.87% in June, compared to 23% in May 2013 and 24% in June 2012. Revenue from steel product exports declined 12% yoy in 6M13 to USD 7.3 bln.
Roman Topolyuk: The revenue that Ukraine generated from steel product exports in June slid both on lower volumes and market prices. Finished steel product output declined 3% m/m in June, steel billets prices fell 2% m/m to USD 492/t (billets comprise 27% of total exports), and hot rolled coil slid 2% to USD 503/t (flat finished products represent 29% of steel exports).
While export revenue from steel reached its low point for the last year in June, a trend that’s more customary for February, we see signs of a turnaround already in July, reflected in a 2-3% m/m price increase for key steel products. That trend may strengthen in August-September since major global steel producers are trying to negotiate significant price increases for that period and demand in Europe is showing signs of bottoming out.
