Ukraine increased coke imports by 87.7% y/y over 2 months

In January-February 2025, Ukrainian steelmakers increased imports of coke and semi-coke (HS 2704) by 87.7% compared to the same period in 2024, up to 155.93 thousand tons. This is based on GMK Center’s calculations based on the State Customs Service data.

In February, imports amounted to 63.43 kt, down 31.4% month-on-month and 57.9% compared to February 2024. In January – 92.5 thsd tonnes (+138.4% m/m; +115.7% y/y).

Polish products accounted for the bulk of supplies in January-February – 126.2 thousand tons. Another 27.7 thousand tons of coke were imported from Indonesia.

The cost of importing raw materials increased by 57.4% y/y over 2 months to $49.74 million, while in February it decreased by 33.6% m/m and increased by 32.6% y/y – to $19.85 million.

In 2013-2024, coking coal production in Ukraine decreased by 74% and coke production – by almost 85%. Currently, most of the mines and coke plants remain in the non-government controlled areas – 64% of the total.

Switching to imported raw materials (coke and coking coal) will significantly worsen the financial situation of steel companies and their ability to support business, investments, debt service and social initiatives.

GMK Center estimates that Ukraine needs 3.2 million tons of coke per year to maintain current production levels, namely up to 6.5 million tons of BOF and open-hearth steel and 1.3 million tons of commercial pig iron, of which up to 20% will be imported in 2024. In 2025, imports are likely to increase due to the shutdown of Pokrovske Coal Group.

As GMK Center reported earlier, in 2024, Ukraine imported 661.49 thousand tons of coke and semi-coke, which is twice as much as in 2023. A significant increase in supplies occurred in the second half of the year. Import costs for the year increased by 81.9% y/y – to $235.47 million.