News Industry flat rolled steel 1914 16 May 2024
The shipment of products abroad increased by 87.6% y/y and decreased by 23.7% m/m
In April 2024, Ukrainian steel companies reduced exports of flat products by 23.7% compared to the previous month, to 113.01 thousand tons. Exports increased by 87.6% compared to April 2023. This is evidenced by data from the State Customs Service.
Export revenue in April fell by 20.6% compared to March and increased by 71.7% y/y – to $75.3 million.
In January-April 2024, Ukrainian steelmakers exported 532.44 thousand tons of flat products, up 2.9 times year-on-year. Export revenue for 4 months increased by 2.6 times y/y – to $327.6 million.
In January-April, the largest exports were of uncoated flat hot-rolled products (HS 7208), amounting to 448.04 thousand tons for $266.64 million. In April, the company shipped 100.82 thousand tons (-19.8% m/m) for $64.77 million (-17.4% m/m). Also, the company exported 64.26 thousand tons of uncoated flat products (HS 7209) for $40.63 million, in April – 9.04 thousand tons (-49.4% m/m) for $6.85 million (-41.9% m/m).
Flat products with galvanic or other coatings (HS 7210) are among the top three types of flat products in terms of exports from Ukraine in January-April 2024, with 19.36 thousand tons worth $19.5 million. In April, steelmakers reduced exports of such products by 33.2% compared to the previous month, to 2.85 thousand tons. Revenue from its shipment fell by 23.4% m/m to $3.38 million.
The largest consumers of Ukrainian uncoated flat hot-rolled steel are Poland and Bulgaria, accounting for 44.7% and 20.5% in monetary terms, respectively. Poland (36%) and Italy (14.6%) together consumed more than 50% of uncoated flat cold-rolled products. Poland (75.4%) and Romania (17.7%) were the main buyers of coated rolled products produced in Ukraine.
As GMK Center reported earlier, in 2023, Ukraine reduced exports of flat products by 26.4% compared to 2022, to 1.202 million tons. Revenues from exports of the relevant products decreased by 42.2% y/y – to $782.3 million.
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.
