09
Apr
01:00
Weak iron ore, rouble seen offsetting Russian demand decline for MMK
MMK will “comfortably weather” the 10-15% fall in Russian domestic steel demand in 2015. This is thanks to falling iron ore prices and the 42% rouble devaluation in 2014 boosting its export competitiveness, according to credit rating agency Moody’s. MMK’s slab cash costs fell to $243/tonne in Q4 2014 against $308/t in Q3.
Moody’s expects weaker demand from domestic end-use sectors such as construction, machinery and automotive. …
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Anonymous
Very good overview of the weekly steel market.
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