Metinvest steel prices unchanged last week
10 January 2022
Ukraine FOB prices for the types of iron and steel
products exported by Metinvest (METINV), Ukraine’s largest producer, dropped
again during Dec. 31 – Jan. 7, according to Metal Expert, an industry
consultancy.
Billet prices were flat w/w at USD 588/t on Jan. 7,
20% below their 2Q21 high of USD 735/t on May 14.
Slab prices remained at USD 620/t on Jan. 7, 35% below
their 2Q21 high of USD 950/t on May 28.
HRC prices were unchanged w/w at USD 775/t on Jan. 7,
29% 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 503/t on Dec. 31, 21% below their 2Q21
high of USD 635/t on June 18.
Dmytro Khoroshun: Ukraine FOB
steel prices will drop further in the next few months, we expect.
Potential stimulus moves from China might support the
markets if directed in part toward steel-consuming industries and if net steel
exports from China do not increase.
Metinvest’s monthly EBITDA will likely amount to
USD 350-550 mln in 4Q21 because of the recent drops in steel and iron ore
prices.
