Ukraine exported 134.3 thousand tons of flat products in January

Export volumes increased 4.3 times y/y, but decreased by 26.4% m/m

In January 2024, Ukrainian steel enterprises increased their exports of flat products by 4.3 times compared to January 2023, to 134.3 thousand tons. Export revenue for the month increased 3.9 times y/y – to $76.44 million. This is evidenced by the data of the State Customs Service.

Compared to December 2023, in January 2024, exports decreased by 26.4%, and revenues by 20.2%.

Hot-rolled flat products (HS 7208) were exported the most during the month, amounting to 110.5 thousand tons (-30.1% m/m) for $60.16 million (-25.7% m/m). The company also exported 19.11 thousand tons (-3.1% m/m) of uncoated flat products (HS 7209) for $11.2 million (+11% m/m).

Flat products with galvanic or other coatings (HS 7210) were among the top three exporters of flat products in January, with 4.96 thousand tons (+4.2% m/m) worth $4.92 million (+11.4% m/m).

The largest consumers of Ukrainian uncoated flat hot-rolled steel are Poland and Bulgaria, accounting for 40.1% and 20.5%, respectively, in monetary terms. Poland (40.3%), Italy (24.1%) and Slovakia (9%) together consumed more than 60% of uncoated flat products. Poland (82%) and Romania (13.7%) were the main buyers of Ukrainian coated products.

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.