Metinvest steel prices rose last week
2 March 2021
Ukraine FOB prices for the types of iron and steel products
exported by Metinvest (METINV), Ukraine’s largest producer, rose further during
Feb. 19-26, according to Metal Expert, an industry consultancy.
Billet prices jumped 5% w/w to USD 580/t on Feb. 26,
40% above their 3Q20 high of USD 415/t on Sept. 11.
Slab prices rose 3% w/w to USD 668/t on Feb. 26, 44%
above their 3Q20 high of USD 465/t on Sept. 11.
HRC prices advanced 4% w/w to USD 735/t on Feb. 26,
46% above their 3Q20 high of USD 503/t on Sept. 11.
Metal Expert did not provide an update for pig iron
prices (Metal Expert’s FOB Black Sea assessment for a group of countries that
includes Ukraine), which stood at USD 505/t on Feb. 19, 36% above their 3Q20
high of USD 370/t on Sept. 18.
The prices provided by Metal Expert are sophisticated
estimates, but they are not necessarily the same as the prices realized by
Metinvest for its specific products.
Dmytro Khoroshun: Metinvest’s
monthly EBITDA will likely exceed USD 400 mln in 1Q21 because of strong steel
and iron ore prices. However, we continue to expect the prices to correct
during 2021.
We maintain our neutral view on METINV bonds.
