Metinvest steel product prices adjusted further down
6 April 2020
Ukraine FOB prices for the types of steel products
exported by Metinvest (METINV), Ukraine’s largest producer, were adjusted
further down in the final assessment for Apr. 3 by Metal Expert, an industry consultancy,
from its early estimate.
Slab prices were adjusted to USD 320/t for Apr. 3, 2%
lower than the early assessment of USD 328/t. This is 6% lower w/w and 4% below
their recent low of USD 335/t on Nov. 1.
Billet prices were adjusted to USD 325/t for Apr. 3,
2% lower than the early assessment of USD 333/t. This is 4% lower w/w and 7%
below their recent low of USD 350/t on Oct. 4.
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 current
depression in semi-finished product prices, especially for slabs, is clearly
negative for Metinvest.
We maintain our negative view on METINV bonds.
