Ukrainian steel exporters are desperately trying to find new markets, such as North Africa, as the weak currency suffered from the crisis and dropped rolled wire prices to the 3.5 years minimum.
Ukraine, the second largest steel rolled wire exporter in the world, has recently supplied this material to Algeria, while the rolled wire prices have fallen by $50 per ton, to $510-515.
According to the experts, the demand was low, so Ukraine had to sell at low prices just to get on a new market.
On the other hand rolled wire export prices in the south of Europe are around $610 per ton, while prices for Ukrainian rolled wire are much lower than in Europe.
After the Olympic games Ukrainian deliveries of rolled wire to Russia decreased. Even though traders say there is no risk in buying from Ukrainian sellers, clients are reluctant to buy due to the political instability. (Ukrainian metal)