Metinvest steel prices stable last week
14 June 2021
Ukraine FOB prices for the types of iron and steel
products exported by Metinvest (METINV), Ukraine’s largest producer, were
mostly stable during June 4 – 11, 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) were unchanged w/w
at USD 635/t on June 11, 72% above their 3Q20 high of USD 370/t on Sept. 18.
Billet prices were flat w/w at USD 640/t on June 11,
54% above their 3Q20 high of USD 415/t on Sept. 11.
Slab prices were stable w/w at USD 930/t on June 11,
100% above their 3Q20 high of USD 465/t on Sept. 11.
HRC prices slid 1% w/w to USD 1,020/t on June 11, 103%
above their 3Q20 high of USD 503/t on Sept. 11.
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: Steel
prices will be volatile in the short-term and will decrease in mid-term, we
continue to expect.
Metinvest’s monthly EBITDA will likely amount to at
least USD 400-500 mln in 2Q21 because of strong steel and iron ore prices.
We maintain our neutral view on METINV bonds.
