Russia Metals and Mining, Metinvest
After the change of leadership VEB finally began to take real steps for assets sale. According to "the Kommersant", Vnesheconombank has intensified negotiations for the sale of mining assets - ISD and "Sibuglemet".
The publication refers to sources in the industry, which state that VEB has also stepped up search for buyers for the mining and metallurgical assets, which it effectively controls as the lender.
Metaltorg.ru reports referring to Steel First, that the prices for hot-rolled and cold-rolled coils exported from the CIS stay at a stable level. As of Feb 29th the price of a hot-rolled coil from the CIS made up $265-270/ton fob Black Sea. The price of a cold-rolled coil also hasn’t changed and made up $310-315/ton fob Black Sea.
Last week there were no reports of offers made by Metinvest and MMK for Europe and Turkey though one of the traders reports of the offer made by the latter for the Middle East and North Africa: hot-rolled coils were offered at $280/ton fob Black Sea against $270/ton previously to be shipped to North Africa. MMK offered cold-rolled coils at $330/ton fob against $315/ton fob. Previously the trader named the price of MMK of $265/ton fob Black sea to be competitive, cold-rolled coil- $310/ton fob.
According to Steel First, plates from the CIS were oared on Feb 29th for export at $290-310/ton fob Black Sea against $295-310/ton fob a week earlier, which is connected with the fluctuations of the dollar/euro exchange rates.