Ukrainian steel products consumption decreased to 2.4 million tons in January-September

18 October, 2024 by
Administrator

More than 38% or 927 thousand tons are imported

In January-September 2024, Ukraine reduced the consumption of steel products (rolled and semi-finished products) by 6.9% compared to the same period in 2023 – to 2.425 million tons. This is evidenced by the data of OP Ukrmetalurgprom.

In 9 months, 927 thousand tons of steel products were imported into Ukraine, which is 6.8% more compared to January-September 2023. Import deliveries make up 38.2% of the domestic rental car consumption market in the country. The share of the imported component in the domestic consumption of steel products increased by 6.82 percentage points y/y.

The import structure is characterized by a significant dominance of flat rolled products over graded products – 79.4% and 19.2%, respectively. In January-September 2023, the dominance of flat rolled products over graded products was also significant – 80.8% and 18.3%, respectively.

In total, in 9 months, Ukrainian steelmakers produced 4.82 million tons of rolled steel, which is 22.7% more compared to the same period in 2023. 3.32 million tons of steel products were shipped for export, which is more by 55.1% y/y.

1.49 million tons of rolled products and semi-finished products were sent to the domestic market, which is 16.2% less y/y. In January-September, Ukrainian steelmakers reduced the shipment of products to the domestic market, the share of exports in the total volume of manufactured products for 9 months was 68.9%, while a year ago the indicator was at the level of 54.5%.

The specific weight of flat rolled products in export deliveries for 9 months increased to 39% against 36.6% a year earlier. The share of rolled products in export deliveries decreased to 14% from 18.2%.

The main export markets of Ukrainian rolled steel in January-September are the countries of the European Union (69.6%), Africa (11.7%) and the rest of Europe (7.6%). Among steel importers, the first place is occupied by other European countries (49.6%), in second place – the EU (28.2%), in third place – Asian countries (20.6%)

As reported earlier, steel enterprises of Ukraine in 2023 increased the production of rolled products by 0.4% compared to 2022 – up to 5.37 million tons. According to the results of December, Ukrainian steelmakers increased the production of rolled steel by 1.8% compared to the previous year per month and 4.7 times per year – up to 508 thousand tons.

The consumption of steel products in 2023 increased by 119.3% compared to 2022 – to 3.506 million tons. Imports amounted to 1.12 million tons (+79.9% y/y), and exports – 2.98 million tons (-31.7% y/y).

Read more: EUROFER calls for urgent action to save European steel industry

Vietnam Steel by Hoa Sen Group

in News
Share this post
Our blogs
Archive