STEEL WEEK IN BRIEF: Ukraine situation, iron ore price up again, scrap demand dips...

The situation in Ukraine has worsened this week, with a direct impact on the steel industry.

In the territory controlled by pro-Russian separatists, the country’s largest steelmaker, Metinvest, has had its assets seized by rebels. The facilities seized include long steel mills Yenakiieve Iron & Steel Works (Yenakiieve Steel), the Makiivka wire rod unit, pipemaking mill Khartsyzsk Pipe, and a number of coal assets. Yenakiieve Steel and Makiivka have been idled since late January due to the lack of raw materials caused by rail blockades in the east of Ukraine, whih are continuing to affect the local market. The country’s rolled steel output fell by 14% year-on-year in February, mostly as a consequence of complete stoppages at some mills, due to the disruption to raw materials supplies. Ukraine’s Donetskstal (DMZ) has halted production of pig iron as a result of the rail blockades and was, therefore, unable to offer its material to the export market this week. No offers from compatriot steelmaker Metinvest were heard, either. CIS-origin slab export prices have remained unchanged...

Published

Ana Paula Camargo

March 17, 2017

22:08 GMT

São Paulo