Metinvest steel product prices rise further
1 June 2020
Ukraine FOB prices for the types of steel products
exported by Metinvest (METINV), Ukraine’s largest producer, mostly increased
during May 22-29, according to Metal Expert, an industry consultancy.
Billet prices slid 1% w/w to USD 350/t on May 29, 1%
in line with their 2019 low of USD 350/t on Oct. 4 and 15% below their 1Q20
high of USD 410/t on Jan. 10.
Slab prices inched up 1% w/w to USD 348/t on May 29,
4% above their 2019 low of USD 335/t on Nov. 1 and 17% below their 1Q20 high of
USD 420/t on Jan. 17.
HRC prices jumped 4% w/w to USD 368/t on May 29, 1%
above their 2019 low of USD 365/t on Oct. 25 and 23% below their 1Q20 high of
USD 478/t on Feb. 21.
Metal Expert did not provide a price assessment for
pig iron for May 29. Metal Expert’s pig iron prices (FOB Black Sea for a group
of countries that includes Ukraine) were at USD 295/t on May 22, 4% above their
2019 low of USD 285/t on Nov. 1 and 11% below their 1Q20 high of USD 333/t on
Mar. 20.
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: Ukraine’s
FOB iron and steel prices are improving, but only slowly. Their low levels will
depress the profitability of Metinvest’s metallurgical segment in both 2Q20 and
3Q20.
