Export prices of Russian steel semi-finished products, including slab and square billet, fell by 20% and 5.5%, respectively, in April this year. The main reason for this is the decrease in the demand for imports of such products, informs The Kommersant newspaper cites statistics from Metals & Mining Intelligence (MMI) analysts.
“In April, export prices of Russian semi-finished products fell due to low demand. Thus, steel slab prices on FOB Black Sea basis decreased by 20% month on month to $424 per 1 ton. In the week from April 17-24, the decline was 28% due to the increase in slab supply to Asia. In the article, the price of a square billet fell 5.5% to $543 per 1 tonne.
At the same time, slab export prices are decreasing in various parts of the world, including the markets of European and Asian countries. For example, in China, in the last week of April, this figure goes to 460-470 CFR against 470-480 CFR a week ago, in other Asian countries – 490-500 $, the article concludes.
April 25, RBC online edition with reference to the statistical data of analysts of the company Yakov and Partners reportedMore than half of the surveyed managers of Russian mining and metallurgical companies expect a technological gap with companies from Western countries in 4-5 years. The main reason for the upcoming delay will be difficulties in the supply of equipment against the backdrop of international sanctions.