Steel production

Over the month, Ukrainian steelmakers produced 284 thousand tons of steel

In January 2023, Ukrainian steel companies reduced steel production by 84.7% compared to the same period in 2022 – to 284 thousand tons. Thus, Ukraine dropped to 35th place in the global ranking of 64 steel-producing countries, informs Ukrmetallurgprom with the reference to the data of the WorldSteel Association.

In January 2022, Ukraine occupied 13th place in the global ranking, steel production volumes in this period amounted to 1.85 million tons.

Global steel production in January 2023 decreased by 3.3% compared to January 2022 – to 145.3 million tons. According to WorldSteel, the top three producing countries included:

  • China – 79.5 million tons (+2.3% compared to January 2022);
  • India – 10.9 million tons (-0.2%);
  • Japan – 7.2 million tons (-6.9%).

As GMK Center reported earlier, in 2022, Ukraine fell to the 25th place in the global rating of 64 steel-producing countries. Last year, Ukrainian steelmakers reduced steel production by 70.7% compared to 2021 – to 6.26 million tons.

Also, according to WorldSteel, steel production in EU countries in 2022 decreased by 10.5% year-on-year – to 136.7 million tons. In general, steel production in the world fell by 4.3% y/y – to 1.83 billion tons. The situation in the European steel sector was influenced by such factors as high energy prices, high price and demand volatility, and a decrease in steel exports from the EU. This was partly due to the military aggression of the Russian Federation against Ukraine.