Ukraine reduced rolled steel production by 18.2% y/y in February

Steel production fell by 9.9% y/y during the period

In February 2026, Ukrainian steel enterprises reduced the production of commercial rolled metal by 18.2% compared to the same period in 2025, to 390.3 thousand tons. This is evidenced by data from Ukrmetallurgprom.

Compared to the previous month, the figure decreased by 4%.

Steel production in Ukraine in February 2026 fell by 9.9% year-on-year – to 515 thousand tons. Compared to January, this figure increased slightly, by 0.8%. Pig iron production for the period amounted to 461,900 tons (-15.2% y/y and -16% m/m).

Overall, in January-February of this year, steel production in Ukraine decreased by 13.2% compared to the same period last year, to 1.03 million tons, pig iron production decreased by 11.2%, to 1.01 million tons, and rolled steel production decreased by 16.8%, to 797,000 tons.

It should be noted that by the end of 2025, Ukraine’s steel industry increased its production of commercial rolled steel by 4.8% y/y, to 6.52 million tons. Last year, pig iron smelting increased by 11.2% y/y – to 7.88 million tons, while steel production decreased by 2.2% y/y – to 7.41 million tons. Last year, the industry’s performance continued to grow, reaching its highest levels since the start of the full-scale invasion, with the exception of steel production.

In its December forecast, GMK Center estimated the possible volume of steel production in 2026 at 7.2 million tons (base scenario), which assumes neutral dynamics compared to 2025. This is the maximum production volume under current conditions. Under a pessimistic scenario, the country is expected to see a decline to levels close to those of 2023 – 6.3–6.6 million tonnes.