The consumption of steel products in Ukraine doubled y/y in January-November

In 11 months, the country's domestic market consumed 3.26 million tons of rolled and semi-finished products

In January-November 2023, Ukraine increased its consumption of steel products (rolled products and semi-finished products) by 101.2% year-on-year – to 3.26 million tons. This is evidenced by GMK Center’s calculations based on data from the State Customs Service and Ukrmetalurgprom.

Over 11 months, Ukraine imported 989.9 kt of steel products, up 84.2% year-on-year. Imports account for 30.4% of the domestic rolled steel consumption market in Ukraine. The share of imports in domestic consumption of steel products decreased by 2.8 percentage points y/y.

The structure of imports is characterized by a significant dominance of flat products over long products – 83.9% and 16%, respectively. In the same period of 2022, the dominance of flat products over long products was slightly lower, but still noticeable – 76.9% and 22%, respectively.

In January-November 2023, Ukrainian steelmakers produced 4.86 million tons of rolled products, down 7.2% compared to the same period in 2022. The company exported 2.6 million tons of steel products, down 37.6% y/y.

The domestic market received 2.27 million tons of rolled and semi-finished products, up 110% y/y. This year, Ukrainian steelmakers have increased shipments to the domestic market, with the share of exports in total output amounting to 53.4% in 11 months of 2023, compared to 79.4% in January-November 2022.

The share of flat products in export deliveries increased to 39.2% over 11 months, up from 38.4% a year earlier. The share of long products in exports increased to 18.2% from 17.7%, while semi-finished products decreased to 42.5% from 43.8%.

As GMK Center reported earlier, in November 2023, Ukrainian steel enterprises increased their rolled products production by 14.4% month-on-month and 125% y/y – to 499 thousand tons. In January-November, Ukrainian steelmakers produced 4.86 million tons of rolled steel, down 7.2% year-on-year.