Metinvest steel prices mostly stable last week
19 July 2021
Ukraine FOB prices for the types of iron and steel
products exported by Metinvest (METINV), Ukraine’s largest producer, were
mostly stable during July 9 – 16, according to Metal Expert, an industry
consultancy.
Billet prices were flat w/w at USD 645/t on July 16,
55% above their 3Q20 high of USD 415/t on Sept. 11.
Slab prices fell 4% w/w to USD 835/t on July 16, 80%
above their 3Q20 high of USD 465/t on Sept. 11.
HRC were unchanged w/w at USD 935/t on July 16, 86%
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 610/t on July 9, 65% 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: Steel
prices will likely decrease by the year’s end, but production restrictions and
credit easing in China might limit their drop.
Metinvest’s monthly EBITDA will likely amount to at
least USD 400-500 mln in 2Q21 and in 3Q21 because of strong steel and iron ore
prices.
