In January-February this year, Ukrainian enterprises reduced their consumption of rolled metal products by 24.95% year-on-year, down to 370.2 thousand tons from 493.3 thousand tons.
According to a press release issued by Ukrmetallurgprom on Thursday, 171.2 thousand tons, or 46.25% of the domestic rolled steel market, were imported during this period.
According to Ukrmetallurgprom, in January-February 2024, steel companies produced 900 thousand tons of rolled metal products (152.5% compared to the same period in 2023), of which, according to the State Customs Service of Ukraine, about 701 thousand tons, or 77.9%, were exported. In January-February 2023, the share of exports amounted to 38.5% (227 thousand tons with a total production of 590 thousand tons of rolled metal products).
The share of semi-finished products in export deliveries in January-February 2024 amounted to 47.50%, which is the same as in January-February 2023 (47.58%). The share of flat products in export deliveries significantly exceeded the figure for January-February 2023 (38.66% and 28.19%, respectively), while the share of long products was significantly lower than in January-February 2023 (13.84% in 2024 vs. 24.23% in 2023).
“In January-February 2024, the domestic market capacity amounted to 370.2 thousand tons of rolled steel, of which 171.2 thousand tons or 46.25% were imported. In January-February 2023, the domestic market capacity amounted to 493.3 thousand tons, of which 130.3 thousand tons, or 26.41%, were imported. Thus, in January-February 2024, there was a decrease in the domestic market capacity by 24.95% compared to two months of 2023, with a simultaneous increase in the share of the import component by 19.84%,” the press release states.
The structure of imports in January-February 2024 is still characterized by a significant dominance of flat products over long products (85.05% and 13.67%, respectively); in January-February 2023, the dominance of flat products over long products was also significant (77.97% and 20.49%, respectively).
According to the State Customs Service, the main export markets for Ukrainian rolled steel products in January-February this year were the European Union (80.6%), the rest of Europe (7.3%) and Africa (3.9%).
Among metallurgical importers, the first place was occupied by other European countries (42.9%), the second by the EU-27 (39.9%), and the third by Asian countries (16.9%).
As reported, Ukraine’s rolled steel market grew 2.19 times in 2023 compared to 2022, to 3 million 505.6 thousand tons. The company imported 1 million 118.6 thousand tons, or 31.91% of the domestic rolled steel consumption market.
In 2023, Ukrainian steelmakers produced 5.37 million tons of rolled metal products (100.4% compared to 2022), of which, according to the UAVtormet Expert and Scientific Council, about 2.99 million tons, or 55.6%, were exported.
In 2022, the share of exports amounted to 81.7% (4.37 million tons with a total production of 5.35 million tons of rolled metal products).
The share of semi-finished products in export deliveries in 2023 was 40.30%, which is significantly lower than in the same period in 2022 (43.45%). The share of flat products in exports for the year was also significantly higher than a year earlier (40.41% and 36.34%, respectively). At the same time, the share of long products is comparable to the figure for the previous similar reporting period (19.53% in 2023 vs. 20.21% in 2022).
In 2023, the domestic market capacity amounted to 3,505.6 thousand tons of rolled steel, of which 1,118.6 thousand tons, or 31.91%, were imported. In 2022, the domestic market capacity amounted to 1598.6 thousand tons, of which 621.6 thousand tons, or 38.88%, were imported. Thus, in 2023, there was an increase in the domestic market capacity by 119.29% compared to 2022, while the share of the import component decreased by 6.98%.
The structure of imports last year was still characterized by a significant dominance of flat products over long products (76.08% and 23.87%, respectively); in 2022, the dominance of flat products over long products was also significant (68.69% and 30.41%, respectively).
According to UAVtormet, the main export markets for Ukrainian steel products in 2023 were the EU (82%) and the rest of Europe (7.5%).
Among metallurgical importers in 2023, the first place was occupied by other European countries (42.4%), the second by the EU-27 (37.3%), and the third by Asian countries (18.2%).
Ukraine has received a CAD2 billion loan from Canada, Prime Minister Denys Shmyhal said on social media site X on Wednesday evening.
“Ukraine has received CAD2 billion from Canada. Vital funds for our resilience… This is a significant investment in global security and peace,” the head of the Ukrainian government said.
“Canada is a reliable partner of Ukraine that supports us in difficult times. Today we have received USD 1.5 billion from Canada. Since February 2022, budgetary assistance has reached USD $5.1 billion,” wrote Finance Minister Sergii Marchenko.
Shmyhal and Marchenko thanked the people and government of Canada for their support of Ukraine.
The Ministry of Finance clarified that the financial assistance was received under the third supplemental agreement, which is a continuation of the original agreement signed on August 8, 2022. The additional loan is provided for a period of 10 years, with an interest rate of 1.5% per annum. The grace period is 4.5 years from the date of disbursement.
As reported, on Wednesday, the state budget of Ukraine received the first tranche of EUR 4.5 billion from the EU under the Ukraine Facility program, while before that, all external revenues amounted to only $1.2 billion since the beginning of the year.
According to the National Bank’s forecasts, Ukraine may receive external financing worth $10 billion or even more between mid-March and the end of April, against the $37.3 billion required in the state budget for the whole year.
In February 2024, TAS Insurance Group (Kyiv) paid UAH 148.73 million under the concluded insurance contracts, which is 55.2% more than the company’s claims in February last year.
According to the insurer’s website, 31.99%, or UAH 47.58 million, was accounted for by motor hull insurance, which is 31.3% more than in the same period in 2023, 35.57%, or UAH 52.9 million, by MTPL, which is 49.5% more.
Payments under the Green Card increased by 79.9% to UAH 20.45 million, which is equal to 13.75% of the total amount of payments made by the insurer for the month.
At the same time, the company paid UAH 22.65 million under voluntary health insurance contracts in February, which is 15.23% of the company’s total payments for the month and 2.21 times higher than the corresponding figure for the same period in 2023.
Last month, TAS Group paid UAH 1.02 million under the concluded property insurance contracts. The volume of payments made by the insurer under other insurance contracts in the reporting period amounted to UAH 4.13 million.
TAS IG was registered in 1998. It is a universal company offering more than 80 types of insurance products in various types of voluntary and compulsory insurance. It has an extensive regional network of 28 regional directorates and branches.
According to customs statistics released by the State Customs Service of Ukraine on Wednesday, Ukraine reduced imports of lead and lead products by 30.9% to $141 thousand (in February – $7 thousand), imports of tin and tin products by 5.8% to $507 thousand (in February – $247 thousand), and increased imports of zinc and zinc products by 55.6% to $6,406 (in February – $2,312 million).
Exports of lead and lead products decreased by 41.8% to $1.758 million (in February – $885 thousand), nickel and nickel products amounted to $50 thousand (in February – $47 thousand), while in January-February 2023 it was $92 thousand.
Zinc exports for the two months of this year amounted to $19 thousand (in February – $11 thousand), while in January-February 2023 it was $24 thousand. Exports of tin and products amounted to $24 thousand (in February – $24 thousand, in January there were no exports) against $18 thousand in the same period a year earlier.
At the same time, Ukraine reduced imports of lead and lead products by 65.2% to $989 thousand, imports of tin and tin products by 23% to $2.728 million, but increased imports of zinc and zinc products by 18.8% to $45.966 million.
In 2023, the company exported $130 thousand worth of zinc, compared to $1.331 million in 2022. Exports of tin and tin products amounted to $159 thousand against $424 thousand in 2022.
Imports of tin and tin products fell by 33.5% to $3.312 million, while imports of zinc and zinc products decreased by 58.7% to $38.690 million. Zinc exports in 2022 amounted to $1.331 million, while in 2021 they amounted to $550 thousand. Exports of tin and tin products in 2022 amounted to $424 thousand against $346 thousand in the previous year.
The Netherlands is allocating more than 150 million euros for the purchase of air-to-ground ammunition for Ukrainian F-16 aircraft and more than 200 million euros for the purchase of drones.
According to the Dutch Ministry of Defense, the ammunition will be purchased directly from the industry. Defense Minister Keesa Ollongren announced this after yesterday’s meeting of the Contact Group on Ukraine’s Defense.
In addition, the Netherlands is sending (out of the previously promised) F-16 fighter jets to Romania. The planes will be used in a training center for Ukrainian and Romanian pilots. This includes not only the aircraft themselves, but also all related spare parts and ammunition.
The Netherlands leads the Ramstein Air Force coalition along with Denmark and the United States. 18 Dutch F-16s have been made available for training in Romania. The remaining 24 Dutch F-16s are intended for delivery to Ukraine. Some of them are currently being prepared in coordination with coalition partners.
The Ministry of Defense also informed that the Netherlands is allocating more than 200 million euros for the purchase of drones. It is planned to purchase a significant number of ISR (Intelligence Surveillance Reconnaissance) drones and transfer them to Ukraine, which will be done in coordination with other partners and the Ukrainian armed forces.
“These drones are already in use and have proven themselves on the battlefield,” said Minister Ollongren.
In 2023, Ukrainian mobile operator lifecell increased its net profit by 2.6 times compared to 2022, to UAH 2 billion 567.7 million.
According to the report of Turkcell’s parent company on its website on Wednesday, lifecell’s revenue increased by 24.4% last year to UAH 11 billion 712.1 million.
The operator’s EBITDA increased by 25.3% to UAH 6 billion 808.9 million, while the EBITDA margin grew by only 0.3 percentage points to 58.1%.
The operator’s capital expenditures in 2023 increased by 39.9% to UAH 4 billion 207.1 million.
According to the report, lifecell’s active subscriber base reached 11.7 million in the fourth quarter, up from 11.4 million in the third quarter and 10.2 million a year earlier.
As reported, in the first nine months of 2023, lifecell’s revenue increased by 26% to UAH 8 billion 571.8 million, EBITDA by 26.1% to UAH 4 billion 968.9 million, and net profit by 2.9 times to UAH 1 billion 68.6 million. The company also increased its capital investments by 51% to UAH 3 billion 035.7 million.
Lifecell is the third largest mobile operator in Ukraine. Turkcell owns 100% of the shares in Lifecell LLC.
Lifecell’s revenue in 2023 amounted to 75.9% of Turkcell International’s revenue and 8.4% of Turkcell’s total revenue. The Ukrainian operator accounted for 10.6% of consolidated EBITDA and 7.4% of consolidated profit of Turkcell.
On December 29, 2023, Turkcell signed an agreement to transfer 100% of the shares, as well as all rights and debts of Lifecell LLC (TM lifecell), as well as the contact center outsourcing company Global Bilgi LLC and the tower rental service provider Ukrtower LLC to the French investment company NJJ Capital. In the last report, the operations in Ukraine are listed in discontinued operations. However, the deal has been stalled due to the lack of approval from the Antimonopoly Committee of Ukraine and the arrest of some Ukrainian companies in the case against Russian businessman Mikhail Fridman, who is an indirect minority shareholder of Turkcell.
