Long steel

Shipments of products abroad increased by 81.1% y/y and 24.9% m/m

In February 2024, Ukrainian steel enterprises increased exports of long steel products by 81.1% compared to the same month in 2023, to 53.99 thousand tons. Revenue from exports of the relevant products increased by 50.8% y/y – to $39.96 million. This is evidenced by the data of the State Customs Service.

In February, exports of long products increased by 24.9% and revenues – by 13.4% compared to January.

In January-February this year, Ukrainian steelmakers exported 97.22 thousand tons of long products, up 81.5% year-on-year. Export revenue for the period amounted to $75.19 million (+53.9% y/y).

Hot rolled bars and coils in coils (HS 7213) were exported the most in 2 months – 40.45 thousand tons for $24.7 million. In February, the company exported 26.46 thousand tons (+89% m/m) for $16.22 million (+92% m/m). The company also exported 26.52 thousand tons of carbon steel wire (HS 7217) for $22.97 million, and 12.7 thousand tons (-8.2% m/m) for $10.9 million (-9.8% m/m) for the month.

Hot-rolled rods and bars are among the top three types of long products in terms of exports from Ukraine in January-February, with 14.05 thousand tons worth $8.31 million in coils of other alloy steels (HS 7227). In February, exports of such products increased by 53.8% m/m – to 8.5 thousand tons, while revenue increased by 57.9% m/m – to $5.09 million.

Romania and Poland were the largest consumers of Ukrainian hot-rolled rods and bars in the month, accounting for 47.4% and 47%, respectively, in monetary terms. Poland (34.8%) and Germany (20.2%) consumed about 55% of Ukrainian wire. Poland (81.9%) was the main buyer of rods and bars in coils.

As GMK Center reported earlier, in 2023, Ukrainian steelmakers reduced exports of long products by 31.4% year-on-year – to 523.84 thousand tons. Steelmakers’ revenue from exports of such products fell by 45% y/y – to $395.15 million. Hot rolled bars and coils in coils (HS 7213) were exported the most over the year, 209.97 thousand tons for $131.42 million.