Imports of long products to Ukraine decreased by 27% m/m in February

In February 2024, imports of long products to Ukraine decreased by 27% compared to the previous month – to 7.32 thousand tons. Imports increased by 15.7% compared to February 2023. This is evidenced by the data of the State Customs Service.

The cost of importing products for the month decreased by 19.5% compared to January, and increased by 2.6% compared to the same month last year – up to $8.82 million.

In January-February, imports of long products to Ukraine increased by 23.7% compared to the same period in 2023, to 17.34 thousand tons. Imports in monetary terms increased by 9.9% y/y – to $19.8 million.

Angles, shaped and special profiles made of unalloyed steel (HS 7216) accounted for the bulk of imports – 8.18 thousand tons worth $7.04 million. Supplies of such products to Ukraine in February fell by 70.8% m/m, and in February 2023, they were not imported. Import costs amounted to $1.81 million (-65.4% m/m). Türkiye is the key supplier of angles, shapes and special profiles, accounting for 54.2% of supplies in monetary terms.

Also in January-February, Ukrainian consumers imported 3.41 thousand tons of other rods and bars of carbon steel without processing, twisted (HS 7214) for $2.76 million, and in February – 2.38 thousand tons (+132% m/m; -14.8% y/y) for $1.81 million (+89.8% m/m; -22% y/y). Turkish producers shipped 78.2% of the total imports to the Ukrainian market.

Imports of other rods and bars of other alloyed steels (HS 7228) reached 2.15 thousand tons worth $3.42 million. In February, the country imported 1.14 thousand tons (+12.6% m/m, -17.4% y/y) of the corresponding products worth $1.71 million (-0.05% m/m, -32.7% y/y). 35.6% of the relevant products were imported from Türkiye.

More than 74% of the total volume of imports of the corresponding products into Ukraine accounted for these three types of long-rolled goods. Other product suppliers include Germany, Poland, the Czech Republic, India, China, Malaysia, etc.

As GMK Center reported earlier, in 2023, Ukraine increased imports of long products by 28% compared to 2022, to 167.13 thousand tons. Import costs increased by 17.4% y/y – to $174.61 million over the year. Most of all, the company imported angles, shapes and special profiles made of unalloyed steel (HS 7216) – 65.67 thousand tons for $56.84 million.