Consumption of galvanized steel in Ukraine increased to 243 thousand tons in 2023

Last year, consumption of galvanized steel in Ukraine increased by 41% y/y – to 243 thousand tons. It is expected that consumption of this steel product could reach 289 kt by 2024, up 19% y/y.

This was stated by Denys Yarko, Sales Director of the Metalworking Sector at Metinvest-SMC, during an open meeting of the Committee on Roofing, Facade Structures and LGSF of the Ukrainian Steel Construction Center Association.

This is due to the increased demand from the construction industry and infrastructure reconstruction, as well as the stable operation of the Ukrainian power grid throughout most of last year.

According to Denys Yarko, domestic production of galvanized steel last year decreased by 42% y/y – to 103 thousand tons. The decline was due to power outages in the first quarter of last year.

The foreign trade in galvanized steel showed mixed dynamics. Exports of galvanized steel from Ukraine fell by 73% y/y – to 24 thousand tons last year. At the same time, a decline in domestic production and rising domestic demand led to a significant increase in imports, which almost doubled to 164 thousand tons.

In 2022, the consumption of galvanized steel in Ukraine decreased by 44% y/y – to 172 thousand tons.

As GMK Center reported earlier, last year’s apparent consumption of galvanized steel in Ukraine amounted to 277 kt, up 82% y/y. Domestic production of these products increased by 60% compared to 2022, up to 65 kt.