The consumption of galvanized steel in Ukraine increased by 5.6% y/y in 2024

In 2024, consumption of galvanized steel in the Ukrainian market increased by 5.6% y/y – to 206 thousand tons. This figure slowed down significantly compared to the previous year, when consumption grew by 45.5% y/y – to 195 thousand tons. This is evidenced by the results of a study by the Ukrainian Steel Construction Center Association with reference to Metipol data.

In 2024, slightly less than half (45.6%) of galvanized steel imports came from Turkey. Ukrainian producers accounted for only 35.4% of the galvanized steel consumed. The share of European galvanized steel last year was 13%.

At the same time, according to Metinvest-SMC, the share of galvanized steel in total rolled steel consumption increased to 9.9% in 2024 from 8.2% in 2023. Last year, consumption of galvanized steel in Ukraine increased by 32% – to 297 thousand tons.

Last year, the apparent consumption of polymer-coated steel in Ukraine amounted to 292.2 thousand tons, up 5.4% compared to 277.3 thousand tons in 2023. This figure is still 20-25% lower than the pre-war level.

As GMK Center reported earlier, the volume of construction work in Ukraine in 2024 increased by 15.5% y/y – to UAH 204.7 billion. According to GMK Center, the construction market in dollar terms increased by 14.6% y/y – to $5.1 billion in 2024. However, this is 45.2% lower than in pre-war 2021 ($9.3 billion).