Metinvest expects profit pool to shift in favor of steelmakers from miners from 2020 onwards

December 14, 2019 / www.metalbulletin.com / Article Link

Metinvest sees stable growth in global steel consumption and potential consolidation in the steel industry driving the profit pool from 2020, with a shift in distribution away from iron ore miners and towards steelmakers, according to sales director Dmitry Nikolayenko.

"This year has been very interesting from the point of view of profit pool distribution. There was a combination of factors that pushed the profit of iron ore miners very high," Nikolayenko said at the Middle East Iron and Steel conference in Dubai, referring to the dam collapse at Brazilian miner Vale and the strong increase in steel demand in China."Global iron ore demand was up by 2% this year (2.16 billion tonnes) while supply dropped by 1% (2.21 billion tonnes). All this combined brought to the fact that stocks of iron ore in ports decreased very significantly and we saw prices went up dramatically but steel prices were rather sluggish," he said."Of course they were more optimistic in China and more sluggish in...

Recent News

Bank of Japan boosts rates, continuing an unwinding carry trade

December 22, 2025 / www.canadianminingreport.com

Gold stocks outperform equity market slide

December 22, 2025 / www.canadianminingreport.com

Silver inventories rebound in UK, output from major producers rises

December 15, 2025 / www.canadianminingreport.com

Silver's three-month outperformance continues

December 15, 2025 / www.canadianminingreport.com

Silver & Copper Supply Distortions Continue

December 08, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok