Prime-Tass has cited Mr. Vladimir Pikovskiy, head of the steel and mining industry department of Derzhzovnishinform (DZI), the Ukrainian national research and information center for monitoring international commodity markets, as saying that Ukrainian steel producers have temporarily suspended shipments of rolled steel products to Egypt due to the political crisis in the country.
Mr. Pikovskiy said none of the Ukrainian steel exporters would risk making shipments to Egypt until March.
He said that “No one is canceling contracts, but shipments in February are probably not worth the risk.”
But he added that the temporary stoppage of shipments of rolled steel products to Egypt would not affect the output of the Ukrainian steelmakers.
According to DZI data, in 2010 Ukrainian steelmakers exported 944,000 tons of rolled steel products to Egypt accounting for 3.5% of total export of these products. Ukrainian steelmakers’ total rolled steel product exports to North African countries amounted to 1.23 million tons in 2010 accounting for 4.6% of the total exports of Ukrainian steel products. (Prime-Tass)