Ukrainian steel market struggles to reduce stocks
'Ukrainian enterprises have always managed to sell their products at dumping prices due to low cost and lack of investment in production. Metinvest and Arcelor Temirtau have always had the lowest dumping prices for rolled metal on the Russian market. With all these developments, such a decrease in prices was not surprising as it was considered as a normal situation under market conditions. In response to Russia's new attack, Ukrainian owners of metallurgical plants now see every day as the last day to sell and are just trying to sell their products at any price.
EU ban on imports of Russian long products rebar and wire rod
The EU ban on imports of rebar and wire rod from Russian products will enter into force on 1 April 2024.
According to market experts, 'Russian exporters of semi-finished products (NLMK, DPR and LPR mills, Evraz, Oskolsky EMK, Novostal-M, etc.) may be forced to redirect part of their volumes to alternative markets'.