Ukraine exported 144.1 thousand tons of flat products in May

In May 2024, Ukrainian steel companies increased exports of flat products by 27.5% compared to the previous month, to 144.1 thousand tons. Exports increased by 23.7% compared to May 2023. This is evidenced by data from the State Customs Service.

Export revenue in May increased by 24.3% compared to April and by 5.2% y/y – to $93.63 million.

In January-May 2024, Ukrainian steelmaking companies exported 676.52 thousand tons of flat products, up 2.2 times year-on-year. Export revenue for 5 months increased by 96.8% y/y – to $421.22 million.

In January-May, the largest exports were of uncoated flat hot-rolled products (HS 7208), amounting to 566.04 thousand tons for $340.5 million. In May, the company shipped 118 thousand tons (+17% m/m) for $73.83 million (+14% m/m). The company also exported 86.6 thousand tons of uncoated flat products (HS 7209) for $56.13 million, up from 22.32 thousand tons (+147% m/m) in May and worth $15.51 million (+126.5% m/m).

Flat products with galvanic or other coatings (HS 7210) were among the top three types of flat products in terms of exports from Ukraine in January-May 2024, with 22.88 thousand tons worth $23.5 million. In May, steelmakers increased exports of such products by 23.4% month-on-month – to 3.52 thousand tons. Revenue from its shipment increased by 18.4% m/m – to $4 million.

The largest consumers of Ukrainian uncoated flat hot-rolled steel are Poland and Bulgaria, accounting for 42.9% and 22.8%, respectively, in monetary terms. Poland (40.3%) and Bulgaria (14.1%) together consumed more than 50% of uncoated flat cold-rolled products. Poland (71.9%) and Romania (20.7%) 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.