Ukraine exported 136.9 thousand tons of flat products in February

The shipment of products abroad increased by 3.9 times y/y and 1.9% m/m

In February 2024, Ukrainian steel companies increased exports of flat products by 1.9% compared to the previous month, to 136.93 thousand tons. Exports increased 3.9 times compared to February 2023. This is evidenced by data from the State Customs Service.

Export revenues in February increased by 6% compared to January, and by 3.4 times y/y – to $81 million.

In January-February 2024, Ukrainian steel companies exported 271.25 thousand tons of flat products, up 4.2 times y/y. Export revenue for 2 months increased 3.6 times y/y – to $157.4 million.

In January-February, the company exported the most uncoated flat hot-rolled products (HS 7208) – 221.42 thousand tons worth $123.42 million. In February, the company shipped 110.92 thousand tons (+0.4% m/m) for $63.26 million (+5.1% m/m). The company also exported 37.36 thousand tons of uncoated flat products (HS 7209) for $22 million, 18.84 thousand tons (+1.7% m/m) for $10.8 million (-3.6% m/m) in February.

Flat products with galvanic or other coatings (UKTZED 7210) were among the top three types of flat products exported from Ukraine in January-February 2024, with 12.24 thousand tons worth $11.7 million. In February, steelmakers increased exports of such products by 36.7% year-on-year – to 7.07 thousand tons. Revenue from its shipment increased by 37.6% m/m – to $6.77 million.

The largest consumers of Ukrainian uncoated flat hot-rolled steel are Poland and Bulgaria, accounting for 39.3% and 25.8%, respectively, in monetary terms. Poland (34.9%) and Italy (14.6%) together consumed more than 50% of uncoated flat cold-rolled products. Poland (79.6%) and Romania (15.5%) were the main buyers of coated rolled products produced in Ukraine.

As GMK Center rpeorted 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.