EU increased imports of ferroalloys from Ukraine by 24.9% y/y in the first half of 2023

In January-June 2023, the European Union increased the import of ferroalloys from Ukraine by 24.9% compared to the same period in 2022 – up to 213.64 thousand tons. In monetary terms, the import of products decreased by 42.5% y/y – to €177.2 million. This is evidenced by Eurostat’s data.

The largest importers of ferroalloys of Ukrainian production among the EU countries in January-June 2023 were:

• Poland – 185.2 thousand tons (+55.2% compared to January-June 2022);
• Italy – 12.3 thousand tons (-22.8% y/y);
• Romania – 4.5 thousand tons (-22.8% y/y).

In June 2023, EU countries increased imports of ferroalloys from Ukraine by 87% compared to June 2022 – up to 12.5 thousand tons. Compared to May, deliveries of Ukrainian products to European consumers fell by 56.2%. The costs of European steelmakers on imports amounted to €12.85 million, which is 12.2% less compared to June last year, and 44.9% less than May 2023.

In June 2023, Poland consumed 4.22 thousand tons of Ukrainian ferroalloys, which is 77.3% more compared to June 2022 and 84.3% less y/y. In June, Romania reduced the import of ferroalloys from Ukraine by 0.2% y/y, and by increased by 93.7% m/m – to 1.1 thousand tons. In June, Italy imported 4.6 thousand tons of Ukrainian products, while in June 2022 – 0.3 thousand tons, and in May 2023 – 0.2 thousand tons.

As GMK Center reported earlier, in the first quarter of 2023, ferroalloy enterprises of Ukraine reduced production by 2.7 times compared to the same period last year – to 70,000 tons.

Also, in January-June 2022, Ukraine exported 275.85 thousand t of ferroalloys for $240.4 million, which is 12.7% more and 45.2% less, respectively. The main consumer of Ukrainian ferroalloys in 6 months of 2023 was Poland (61.2% in monetary terms), Turkiye (10.8%), and the Netherlands (5.73%).

In 2022, ferroalloys of Ukraine reduced exports by 47.7% compared to 2021 – to 349.6 thousand tons. Revenue from the export of ferroalloys decreased by 46% y/y – to $564.14 million. In January-August 2022 plants of the industry produced 399.46 thousand tons of products, which is 32% less y/y.