Business news from Ukraine

Business news from Ukraine

In July, Ukraine reduced its steel production by 21% and fell to 26th place in world

24 August , 2026  

In July 2026, Ukraine’s steel mills produced 457,000 metric tons of steel, which is 21.3% less than in July of last year and 33.9% less than in June, when 691,000 metric tons were produced.

At the end of the month, Ukraine ranked 26th among 70 countries whose data is tracked by the World Steel Association (Worldsteel).

Overall, global steel production in July declined much less—by 0.3% year-over-year, to 149.2 million metric tons. Thus, the rate of decline in production in Ukraine significantly exceeded the global average. Worldsteel’s official data was published on August 24, 2026.

From January through July, Ukrainian steelmakers produced 4.023 million metric tons of steel, which is 5.6% less than during the same period in 2025. Based on the results of the first seven months, Ukraine ranks 24th in the global rankings.

The decline in July was particularly sharp compared to the previous month. While Ukrainian enterprises produced about 691,000 metric tons of steel in June, output fell by nearly 234,000 metric tons in July.

This also led to a decline in the country’s position in the global ranking: after seven months, Ukraine ranks 24th, while in July alone it dropped to 26th place.

By comparison, most of the largest producers increased their output in July. India increased production by 1.9%, the U.S. by 4.4%, South Korea by 6.4%, Turkey by 7%, Germany by 3%, and Vietnam by as much as 34.7%. China, on the other hand, reduced production by 3.6%. According to official data from Worldsteel, Russia increased its July production by 3.3%, to an estimated 5.7 million metric tons.

In the first seven months of 2026, global steel production totaled 1.081 billion metric tons, down 0.6% year-over-year. Ukraine, with a 5.6% decline, is also showing significantly weaker performance than the global market as a whole.

In 2025, Ukraine produced approximately 7.4 million metric tons of steel. According to World Steel’s latest annual table, the country ranked 23rd globally, down from 22nd in 2024.

The World Steel Association brings together leading steel producers, national and regional industry associations, and research organizations. The association’s members account for about 85% of global steel production.

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