Metinvest steel prices rose last week
31 January 2022
Ukraine FOB prices for the types of iron and steel products
exported by Metinvest (METINV), Ukraine’s largest producer, rose during Jan. 21
– 28, according to Metal Expert, an industry consultancy.
Billet prices inched up 1% w/w to USD 643/t on Jan.
28, 13% below their 2Q21 high of USD 735/t on May 14.
Slab prices jumped 6% w/w to USD 670/t on Jan. 28, 29%
below their 2Q21 high of USD 950/t on May 28.
HRC prices advanced 6% w/w to USD 833/t on Jan. 28,
24% 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 513/t on Jan. 21, 19% below their 2Q21
high of USD 635/t on June 18.
Dmytro Khoroshun: Steel
prices might continue rebounding on high costs and expectations of economic
stimulus in China.
Metinvest’s monthly EBITDA will amount to USD 300-500
mln in November-December, we expect.
We maintain our neutral view on METINV bonds.
