Imports of flat products to Ukraine increased by 7.8% y/y in January-November

In January-November 2024, Ukraine increased imports of flat products by 7.8% compared to the same period in 2023, to 895.67 thousand tons. This is evidenced by data from the State Customs Service.

Coated flat products (HS 7210) accounted for the bulk of imports – 426.35 thousand tons (+4.7% y/y). Turkey is the key supplier of the products – 173.18 thousand tons. Another 58.75 thsd tonnes were imported from Poland.

In addition, 307.47 thousand tons of hot-rolled flat products (HS 7208) were imported, up 8.3% compared to January-November 2023. Turkish suppliers shipped 228.45 thousand tons of the relevant products to the Ukrainian market, while Italian suppliers shipped 19.51 thousand tons. The top three types of flat products imported by Ukrainian consumers include cold-rolled flat products – 74.74 thousand tons (+8% y/y). The largest volume was imported from Turkey – 51.61 thousand tons, and China – 16.79 thousand tons.

In November of this year, imports of flat products to Ukraine decreased by 17.5% compared to the previous month and by 3.3% compared to November 2023, to 72.29 thousand tons.

Supplies of coated flat products decreased by 5.2% m/m and increased by 13.6% y/y to 36.44 thousand tons, hot-rolled flat products decreased by 20.4% m/m and 14.3% y/y – to 24.33 thousand tons, and cold-rolled flat products decreased by 62.1% m/m and 53.4% y/y – to 4.18 thousand tons.

The cost of imports of flat products for 11 months reached $994.33 million, up 4.5% compared to January-November 2023, and in November it amounted to $83.93 million (-12.3% m/m, +7.5% y/y).

As GMK Center reported earlier, in 2023, Ukraine increased imports of flat steel products by 93.2% compared to 2022, up to 908.2 thousand tons. Import costs increased by 48.4% y/y – to $1.03 billion. The largest suppliers of products were Turkey, Romania, Slovakia and China.