Ukraine exported 1.31 million tonnes of semi-finished products in January-August

In January-August 2024, Ukrainian steelmakers increased exports of semi-finished steel products by 67.3% compared to the same period in 2023, to 1.31 million tonnes. This is evidenced by data from the State Customs Service.

In August, exports of Ukrainian semi-finished products totalled 198.49 thousand tonnes, down 9.5% month-on-month and 63.1% year-on-year. Average monthly exports in 2024 amounted to 163.23 thousand tonnes compared to 97.55 thousand tonnes in January-August 2023.

The main export destinations for semi-finished steel products from Ukraine are Bulgaria – 428.31 kt over 8 months and 51.27 kt in August (-25.7% m/m), Egypt – 214.31 kt over the same period, Egypt – 214.55 thsd tonnes and 65.96 thsd tonnes (-19.9% m/m), respectively, Turkey – 120.1 thsd tonnes and 15.2 thsd tonnes (-58.9% m/m), and Poland – 103.61 thsd tonnes and 2.02 thsd tonnes (-56.5% m/m).

Revenue from exports of semi-finished products in January-August 2024 increased by 58.1% y/y – to $649.16 million, while in August it decreased by 8.7% m/m and increased by 76.8% y/y – to $99.88 million.

In 2023, Ukraine reduced exports of semi-finished products by 36.7% compared to 2022, to 1.203 million tonnes. Compared to pre-war 2021, shipments of semi-finished products abroad decreased by 82.2%, or 5.57 million tonnes. Revenue of domestic enterprises from exports of semi-finished products last year decreased by 48.9% compared to 2022, to $608.52 million.

In 2023, the largest consumers of Ukrainian semi-finished products were Bulgaria – 36.7%, Poland – 23%, and Italy – 9.6%.