Steel export from Ukraine

Shipments of steel raw materials abroad for 11 months of 2022 fell by 67.3% y/y, rolled products – by 68.1% y/y, and semi-finished products – by 70.6% y/y

In January-November 2022, steel enterprises of Ukraine reduced the export of ferrous metals by 67.3% compared to the same period in 2021 – to 5.81 million tons. In monetary terms, exports during this period fell by 65.4% y/y – to $4.36 billion. This is evidenced by State Customs Service’s data.

In the 11 months of 2022, the export of pig iron decreased by 57.8% year-on-year – to 1.23 million tons, and scrap metal by 92.3% year-on-year – to 42,000 tons.

Shipments of semi-finished products abroad in January-November 2022 decreased by 70.6% y/y – to 1.82 million tons, and rolled steel – by 68.1% y/y, to 2.39 million tons.

In the structure of ferrous metals exports for 11 months of 2022, the share of semi-finished products was 31.4%, steel raw materials (pig iron, ferroalloys, scrap) – 27.5%, rolled steel – 41.1%.

As GMK Center reported earlier, in January-February 2022, revenue of Ukraine’s steel enterprises from export of ferrous metals increased by 34.8% compared to the same period in 2021 – up to $2.04 billion. In the first two months of 2022, imports increased by 86.8% y/y – up to $230 million.

After the Russian invasion, ferrous metals exports fell sharply due to the blockade of ports, logistical problems, as well as the destruction of the big plants in Mariupol – Azovstal and Ilyich Iron and Steel Works. Now Ukrainian steelmakers are actively looking for new ways to export products, but the shipment can be made mainly to Europe, since most world markets are closed to Ukraine due to the inaccessibility of ports

In 2021 revenue from the ferrous metals exports from Ukraine increased by 81.4% compared to the previous year – up to $13.96 billion.