Business news from Ukraine

Business news from Ukraine

Ukraine increased steel production by 16% in March

27 April , 2024  

Metallurgical enterprises of Ukraine in March of this year increased steel production by 15.8% compared to the same period in 2023 – to 611 thousand tons from 527 thousand tons.

At the same time, Ukraine took 21st place in the ranking of 71 countries – global producers of these products, compiled by the World Steel Association (Worldsteel).

According to Worldsteel, in March an increase in steel production was recorded by March 2023 in most countries of the top ten, except China, Japan and South Korea.

The top ten steel-producing countries at the end of March are as follows: China (88.270 million tons, a decrease of 7.8% compared to March 2023), India (12.709 million tons, an increase of 7.8%), Japan (7.197 million tons , decrease by 3.9%), USA (6.906 million tons, at the level of March 2023), Russia (6.640 million tons, increase by 0.8%), South Korea (5.282 million tons, down by 9.5%) , Germany (3.510 million tons, up 8.4%), Turkey (3.202 million tons, up 18%), Brazil (2.787 million tons, up 5.6%) and Iran (2.774 million tons, up 2 %).

In total, in March 2024, steel production decreased by 4.3% compared to the same period in 2023 – to 161.190 million tons.

In January-March 2024, the top ten steel producing countries are as follows: China (256.550 million tons, a decrease of 1.9% compared to January-March 2023), India (37.327 million tons, an increase of 9.7%), Japan ( 21.452 million tons, down 0.8%), USA (19.936 million tons, down 1.6%), Russia (18.680 million tons, down 0.2%), South Korea (16.245 million tons, down 2 .5%), Germany (9.704 million tons, an increase of 6%), Turkey (9.533 million tons, an increase of 28.4%), Brazil (8.293 million tons, an increase of 6.2%) and Iran (7.616 million tons , higher by 16.3%).

In general, over the 3 months of 2024, steel production increased by 0.5% compared to the same period in 2023 – to 469.060 million tons.

At the same time, Ukraine produced 1.687 million tons of steel in 3 months of 2024, which is 36.6% higher than the volumes for the same period in 2023 (for 3 months of 2023 – 1.235 million tons). The country is in 22nd place based on the results of 3 months – 2024.

As reported, in 2023, China produced 1 billion 19.080 million tons at the level of the previous year), India (140.171 million tons, +11.8%), Japan (86.996 million tons, -2.5%), USA (80.664 million tons , +0.2%), Russia (75.8 million tons, +5.6%), South Korea (66.676 million tons, +1.3%), Germany (35.438 million tons, -3.9%), Turkey (33.714 million tons, -4%), Brazil (31.869 million tons, -6.5%) and Iran (31.139 million tons, +1.8%).

In total, 71 countries produced 1 billion 849.734 million tons of steel in 2023, which is 0.1% less than in 2022.

At the same time, Ukraine produced 6.228 million tons of steel in 2023, which is 0.6% lower than the volumes for 2022. The country is in 22nd place by the end of 2023.

At the end of 2022, the top ten steel producing countries looked like this: China (1.013 billion tons, -2.1%), India (124.720 million tons, +5.5%), Japan (89.235 million tons, -7.4 %), USA (80.715 million tons, -5.9%), Russia (71.5 million tons, -7.2%), South Korea (65.865 million tons, -6.5%), Germany (36.849 million tons , -8.4%), Turkey (35.134 million tons, -12.9%), Brazil (33.972 million tons, -5.8%) and Iran (30.593 million tons, +8%).

At the end of 2022, Ukraine took 23rd place with the production of 6.263 million tons of steel (-70.7%).

In total, in 2022, 64 countries produced 1 billion 831.467 million tons of steel, which is 4.3% less than in 2021.

,