Railway product prices rise 3% m/m in November for Ukraine exports
20 January 2021
Ukraine export prices for railway products sold mostly
by Ukraine’s largest producer Interpipe (INTHOL) were USD 1,406/t in November
2020, up 3% m/m and 34% less yoy, according to Concorde Capital’s analysis of
State Statistics data released on Jan. 19.
The November prices are 34% below their December 2019
peak and 2% above their 3Q20 average level, according to Concorde Capital
calculations.
Dmytro Khoroshun: Interpipe’s
railway product prices might inch up qoq in 4Q20 after peaking in 4Q19 and
falling qoq for three quarters.
The stabilization of the prices, together with a
steady railway product sales volume (14.2 kt per month in October-November, 1%
less than the monthly average for 3Q20), might result in 4Q20 revenue and
EBITDA (before reallocation from its steel segment) of Interpipe’s railway
product segment being similar to those in 3Q20 (USD 64 mln and USD 29 mln,
respectively), save for year-end one-off adjustments.
