Metinvest steel prices drop again last week
1 February 2021
Ukraine FOB prices for the types of iron and steel
products exported by Metinvest (METINV), Ukraine’s largest producer, decreased
for some products during Jan. 22 – 29, according to Metal Expert, an industry
consultancy.
Billet prices dropped 2% w/w to USD 550/t on Jan. 29,
33% above their 3Q20 high of USD 415/t on Sept. 11.
HRC prices plunged 4% w/w to USD 725/t on Jan. 29, 44%
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 560/t on Jan. 22, 51% above their 3Q20
high of USD 370/t on Sept. 18.
Metal Expert also did not provide an update for slab
prices, which stood at USD 695/t on Jan. 15, 49% above their 3Q20 high of USD
465/t on Sept. 11.
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: We expect steel prices to correct during 2021. However, the prices
might find support if China cuts its steel production while its steel
consumption continues growing in 2021, in which case the country will increase its
net imports of steel and support prices worldwide.
