Ukraine exported 1.2 million tons of flat rolled products in 2023

Shipments of products abroad decreased by 26.4% y/y

In 2023, Ukrainian steelmakers reduced exports of flat products by 26.4% compared to 2022, to 1.202 million tons. Revenue from exports of the relevant products decreased by 42.2% y/y – to $782.3 million. This is according to the State Customs Service.

In December, 182.49 thousand tons of flat products were shipped for export, up 40% month-on-month and 4 times more than in the previous year. Export revenues of Ukrainian companies increased by 25.7% over the month to November 2023 and by 3.2 times y/y – to $95.84 million.

Uncoated hot-rolled flat products (HS 7208) were exported the most over the year, amounting to 941.91 thousand tons for $582.6 million. In December, the company shipped 158 thousand tons (+45.2% m/m) for $80.94 million (+34.8% m/m). Also, the company exported 200.2 thousand tons of uncoated flat products (HS 7209) for $132.1 million, in December – 19.12 thousand tons (+29.9% m/m) for $10.1 million (+10.1% m/m).

Flat products with galvanic or other coatings (HS 7210) were among the top three types of flat products exported from Ukraine in January-December 2023, with 56.1 thousand tons worth $63.23 million. In December, steelmakers reduced exports of such products by 12% year-on-year – to 4.96 thousand tons. Revenue from its shipment fell by 23.8% m/m – to $4.42 million.

The largest consumers of Ukrainian uncoated flat hot-rolled steel are Poland and Bulgaria, accounting for 41.7% and 18.6%, respectively, in monetary terms. Poland (30.4%), Bulgaria (17%) and Portugal (7.3%) together consumed more than 60% of uncoated flat products. Poland (74.6%) and Romania (19.9%) were the main buyers of Ukrainian coated products.

Although exports in 2023 are lower than in 2022 (1.63 million tons), they are still significantly higher than in March-December 2022 (the period after the start of the full-scale invasion). From the beginning of the full-scale Russian invasion until the end of 2022, Ukrainian steelmakers exported only 594.54 thousand tons of flat products, and the bulk of the relevant exports in 2022 were shipped in January-February – 1.04 million tons.

Thus, in 2023, Ukrainian steelmakers doubled last year’s figures, excluding the pre-war January-February period.

In 2023, Ukrainian steelmakers increased rolled steel production by 0.4% compared to 2022, to 5.37 million tons. In December, Ukrainian steelmakers increased rolled steel production by 1.8% month-on-month – to 508 thousand tons.

As GMK Center reported earlier, in 2022, Ukrainian steelmakers exported 1.63 million tons of flat products, down 73% compared to 2021. Steelmakers’ revenue from exports of such products fell by 73.5% y/y – to $1.35 billion. Poland, Romania, Turkшну and Bulgaria were the largest consumers of the products.