Metinvest steel product prices drop further in early April
1 April 2020
Ukraine FOB prices for the types of steel products
exported by Metinvest (METINV), Ukraine’s largest producer, dropped further in
early April according to early assessment data for Apr. 3 provided by Metal
Expert, an industry consultancy.
Slab prices dropped 4% w/w to USD 328/t on Apr. 3,
falling 2% below their recent low of USD 335/t on Nov. 1.
Billet prices dropped 2% w/w to USD 333/t on Apr. 3,
which is 5% below their recent low of USD 350/t on Oct. 4.
HRC prices plunged 9% w/w to USD 383/t on Apr. 3,
remaining 5% above their recent low of USD 365/t on Oct. 25.
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: This latest
further drop in prices, especially for HRC, is clearly negative for Metinvest.
