Metinvest steel prices inched up last week
22 February 2021
Ukraine FOB prices for the types of iron and steel
products exported by Metinvest (METINV), Ukraine’s largest producer, inched up
for some products during Feb. 12-19, according to Metal Expert, an industry
consultancy.
Pig iron prices (Metal Expert’s FOB Black Sea
assessment for a group of countries that includes Ukraine) were unchanged w/w
at USD 505/t on Feb. 19, 36% above their 3Q20 high of USD 370/t on Sept. 18.
Billet prices added 2% w/w to USD 550/t on Feb. 19,
33% above their 3Q20 high of USD 415/t on Sept. 11.
Slab prices inched up 1% w/w to USD 645/t on Feb. 19,
39% above their 3Q20 high of USD 465/t on Sept. 11.
HRC prices were flat w/w at USD 708/t on Feb. 19, 41%
above their 3Q20 high of USD 503/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: The recent
rebound in steel scrap prices in the Turkish market and the Chinese economy
gaining pace after the week-long holiday might support the Ukrainian steel
prices in the short term. However, we continue to expect steel prices to
correct during 2021.
We maintain our neutral view on METINV bonds.
