Proposal to discontinue Fastmarkets’ price assessment for Black Sea steel plate exports

Fastmarkets proposes to discontinue its steel heavy plate, 8-50mm, export, fob Black Sea, CIS price assessment (MB-STE-0013) due to substantially reduced market activity.

Following Russia’s unprovoked invasion of Ukraine on February 24, plate exports from Ukraine have been halted.

Ukraine previously exported plate produced mainly at Metinvests’ Azovstal steelworks in Mariupol.

The city has been fully occupied by Russian forces since late May, while Azovstal has been seriously damaged by Russian shelling and bombing.

Metinvest has been unable to make reliable estimations about the level of destruction, but the company nevertheless plans to rebuild the mill, although the building process will take at least three years.

It is technically possible to produce plate at Metinvest’s partly-owned Zaporizhstal Iron & Steel Works in central Ukraine, but only in limited sizes and low volumes, a source at the company told Fastmarkets.

Ukraine’s key Black Sea ports remain blockaded by Russia, making exports by ship impossible. Only limited tonnages of steel are able to be transported by road and rail, with bottlenecks further affecting the border.

Russian steel plate producers – which have traditionally focused on supplying the domestic market, primarily local pipe manufacturers and government projects – are able to continue to export from Black Sea ports. But Europe was the key export destination for Ukrainian steel plate and will now not touch Russian material due to the war-related international sanctions.

The consultation period for this assessment discontinuation will end on Monday August 22, with changes taking place, subject to market feedback, from Tuesday August 23.

To provide feedback on the proposal to discontinue this assessment or if you would like to provide price information by becoming a data submitter to this price, please contact Marina Shulga by email at: pricing@fastmarkets.com. Please add the subject heading FAO: Marina Shulga, re: steel heavy plate, fob Black Sea.

To see all Fastmarkets’ pricing methodology and specification documents go to https://www.fastmarkets.com/about-us/methodology.

What to read next
The publication of Fastmarkets’ US and Brazil pig iron price assessments for Friday Feb 23 were delayed because of an administrative error.
Fastmarkets adjusted its assessments for the stainless steel scrap 430 bundles, solids, consumer buying price, delivered mill Pittsburgh and the stainless steel scrap 409 bundles, solids, consumer buying price, delivered mill Pittsburgh effective Monday February 12.
Fastmarkets is inviting feedback from the industry on the pricing methodology for its iron ore indices, as part of its announced annual methodology review process.
Fastmarkets welcomes your feedback on the following action: Prices for Region 4 logs in Log Lines will be discontinued, as those prices are generated by a third party and we no longer use third party information. Region 4, or the “Inland Region” includes: You can find the current methodology for Log Lines here. To provide feedback […]
Random Lengths is inviting feedback from the industry on pricing methodologies for Random Lengths and Random Lengths International as part of its annual methodology review process.
Fastmarkets launches MB-CU-0513 copper cathode equivalent grade (EQ), cif Southeast Asia, $/tonne on Tuesday February 20.