Metinvest steel prices jump last week
18 January 2021
Ukraine FOB prices for the types of iron and steel
products exported by Metinvest (METINV), Ukraine’s largest producer, jumped for
some products during Jan. 8 – 15, according to Metal Expert, an industry
consultancy.
Pig iron prices (Metal Expert’s FOB Black Sea
assessment for a group of countries that includes Ukraine) shot up 12% w/w USD
553/t on Jan. 15, 49% above their 3Q20 high of USD 370/t on Sept. 18.
Billet prices were flat w/w at USD 585/t on Jan. 15,
41% above their 3Q20 high of USD 415/t on Sept. 11.
Slab prices inched up 1% w/w to USD 695/t on Jan. 15,
49% above their 3Q20 high of USD 465/t on Sept. 11.
HRC prices skyrocketed 8% w/w to USD 780/t on Jan. 15,
55% above their 3Q20 high of USD 503/t on Sept. 11.
Stronger demand from Turkish and European markets
drove the recent price increases for flat products and slabs, but the outlook
for iron and steel prices is cloudy, according to Metal Expert. The coming
Lunar New Year festive season in China and the emerging downward sentiments in
the global scrap segment are making the market participants cautious, Metal
Expert said.
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: Metinvest stands to benefit financially in 1Q21 from the currently
high steel and iron ore prices at the global markets. Nevertheless, we expect a
price correction during 2021.
