The Ukrainian crisis has not yet affected the supply of steel, but the situation may change

As it was many years ago, the confrontation between the two world superpowers during the Cold War should have affected commodity prices and the supply of steel and grain. However, the events in Crimea left the markets more indifferent.

At the same time, experts believe that political turmoil in and around this country really has a great impact on the market. The initial fear was that the loss of Crimea would deprive Ukraine of seaports for import and export, but more detailed analysis showed that Ukraine has an excellent port in Odessa, where exports of its steel and grain are loaded.

So what are the events in Ukraine in terms of fear factors for the supply of metals? Experts believe that the way events have unfolded lately suggests that the worst could be yet to come.

Pro-Russian activists continue to occupy key buildings in other cities in eastern Ukraine. Unlike Crimea, Eastern Ukraine is home to the country's large heavy industry mills, in particular iron and steel, mining and processing facilities for coal, manganese and titanium.

Crimea, on the other hand, has a relatively small potential for heavy industry and, as such, from a purely economic point of view, it did not shake the country, but the East of Ukraine, of course, is a completely different matter.

At the same time, telephone calls between Vladimir Putin and Barack Obama cannot ensure the creation of a situation favorable for a diplomatic solution.