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Evraz update on Russian Steel in H1 of 2018

Steel News - Published on Fri, 10 Aug 2018

Image Source: SteelGuru
In H1 2018, overall Russian steel consumption increased by 2% in year-on-year terms to 18.3 million tonnes. Demand for long steel remained stable at 8.0 million tonnes in the period. In the railway segment, demand for wheels improved by 37% in H1 2018, driven by the new railcar production cycle and restocking following a prolonged period of weak consumption in 2014-16. While rail consumption fell by 16% year-on-year, this is a temporary effect, caused by the process of agreeing on supplies and will be offset in H2 2018. In construction steel, the beam market decreased by 3% and demand for rebar and wire rod grew by 4% and 7%, respectively. Meanwhile, demand for structural products was down 18% as consumer activity and long product logistics were affected by the FIFA World Cup football tournament.

In H1 2018, Russian steel export volumes climbed by 5% year-on-year to 15.2 million tonnes and domestic crude steel output improved by 2% to 36 million tonnes.

Russian steel prices were driven by positive trends in the global steel market. The CPT Moscow rebar price averaged US$502 per tonne in the period, up 19% year-on-year. The price for channels rose by 34% to US$751 per tonne, compared with US$561 per tonne in H1 2017. Based on the CPT Moscow benchmark, HRC prices averaged US$609 per tonne, up 7% from US$570 per tonne in H1 2017, and plates averaged US$622 per tonne, up 14% from US$544 per tonne in H1 2017.

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Posted By : Sanju Moirangthem on Fri, 10 Aug 2018
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