The consumption of steel products in Ukraine increased by 2.2 times y/y in 2023

In 2023, Ukraine increased consumption of steel products (rolled and semi-finished products) by 119.3% compared to 2022, up to 3.506 million tons. This is evidenced by data from Ukrmetalurgprom.

Over 12 months, Ukraine imported 1.12 million tons of steel products, up 79.9% compared to 2022. Imports account for 31.9% of the domestic rolled steel consumption market in the country. The share of imports in domestic consumption of steel products decreased by 7 percentage points y/y.

The structure of imports is characterized by a significant dominance of flat products over long products – 76.1% and 23.9%, respectively. In 2022, the dominance of flat products over long products was slightly lower, but still noticeable – 68.7% and 30.4%, respectively.

In total, Ukrainian steelmakers produced 5.37 million tons of rolled products in 2023, up 0.4% compared to 2022. The company exported 2.98 million tons of steel products, down 31.7% y/y.

The domestic market received 2.39 million tons of rolled and semi-finished products, up 144.3% y/y. In 2023, Ukrainian steelmakers increased shipments of products to the domestic market, with exports accounting for 55.6% of total output in 12 months of 2023, up from 81.7% in 2022.

The share of flat products in export deliveries increased to 40.4% over 12 months, up from 36.34% a year earlier. The share of long products in exports decreased to 19.5% from 20.2%.

As GMK Center reported earlier, Ukrainian steelmakers increased rolled steel production by 0.4% in 2023 compared to 2022, to 5.37 million tons. In December, Ukrainian steelmakers increased rolled steel production by 1.8% month-on-month and 4.7 times year-on-year – to 508 thousand tons.