Metinvest steel prices rose last week
14 February 2022
Ukraine FOB prices for the types of iron and steel
products exported by Metinvest (METINV), Ukraine’s largest producer, continued
rising during Feb. 4 – 11, according to Metal Expert, an industry consultancy.
Billet prices added 3% w/w to USD 675/t on Feb. 11, 8%
below their 2Q21 high of USD 735/t on May 14.
HRC prices rose 3% w/w to USD 905/t on Feb. 11, 17%
below their 2Q21 high of USD 1,095/t on May 21.
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 565/t on Feb. 4, 11% below their 2Q21
high of USD 635/t on June 18.
Metal Expert also did not provide an update for slab
prices, which stood at USD 700/t on Feb. 4, 26% below their 2Q21 high of USD
950/t on May 28.
Dmytro Khoroshun: The rebound
in steel prices might falter on monetary tightening in many regions.
Metinvest’s monthly EBITDA will amount to USD 300-500
mln in November-December, we expect.
We maintain our neutral view on METINV bonds.
