Business news from Ukraine

Business news from Ukraine

Ukrainian enterprises cut consumption of rolled steel by 10%

12 November , 2024  

In January-October this year, Ukrainian enterprises reduced their consumption of rolled steel by 9.93% year-on-year to 2 million 617.7 thousand tons.
According to a press release from Ukrmetallurgprom, 1 million 35.7 thousand tons, or 39.25% of the domestic rolled steel market, were imported during this period.
According to Ukrmetallurgprom, in January-October 2014, steel companies produced 5.264 million tons of rolled steel (120.6% compared to the same period in 2023). According to the State Customs Service of Ukraine, about 3.682 million tons, or 69.9%, were exported. During this period, the share of exports amounted to 54.9% (2.398 million tons with a total rolled steel production of 4.365 million tons).
The share of semi-finished products in export deliveries in January-October 2024 amounted to 46.31%, slightly higher than in January-October 2023 (44.87%). The share of flat products in exports is slightly higher than last year (39.35% and 37.07%, respectively). The share of long products is much lower – 14.34% versus 18.06%.
“In 10 months of 2024, the domestic market capacity amounted to 2 million 617.7 thousand tons of rolled steel, of which 1 million 35.7 thousand tons, or 39.25%, were imported. In January-October 2023, the domestic market capacity amounted to 2 million 906.4 thousand tons, of which 939.4 thousand tons, or 32.42%, were imported. Thus, for 10 months of 2024, there was a decrease in the domestic market capacity by 9.93% compared to 10 months of 2023, while the share of the import component increased by 6.83%,” the press release states.
The structure of imports for 10 months of 2024 is still characterized by a significant dominance of flat products over long products (79.50% and 18.93%, respectively). In January-October 2023, the dominance of flat products over long products was also significant (80.51% and 18.62%, respectively).
According to the State Customs Service, the main export markets for Ukrainian rolled steel products in January-October 2024 were the European Union (70.1%), Africa (11.1%) and the rest of Europe (7.6%).
Other European countries ranked first among metallurgical importers for the period under review (49.6%), followed by the EU-27 (28.2%), and Asian countries (20.4%).
As reported, Ukraine’s rolled steel market increased 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 market for these products.