Ukraine increased production of rolled steel by 39.5% m/m in March

In March 2026 figures, Ukraine’s steel mills increased production of commercial rolled steel by 13.8% compared to the same period in 2025, reaching 544,500 tons. Compared to the previous month, the figure rose by 39.5%. This is evidenced by data from the Ukrmetallurgprom Association.

Steel output in Ukraine in March increased by 27.6% year-on-year and by 36.4% month-on-month, reaching 702,350 metric tons. Pig iron production for the month amounted to 690,000 metric tons (+22.5% year-on-year; +49.4% month-on-month).

For the January-March period, steel production decreased by 0.3% compared to the same period last year, to 1.73 million tons; pig iron production increased by 5.9%, to 1.8 million tons; and rolled steel production decreased by 6.6% year-on-year, to 1.34 million tons. On a quarterly basis, steel output fell by 8.4%, pig iron – by 18.7%, and rolled steel – by 20.1%.

March marked a turning point, as production across all key segments rebounded sharply following a weak start to the year. It was this surge that allowed quarterly performance to even out: pig iron production exceeded last year’s level, while steel production nearly made up for the previous shortfall; however, the positive effect was insufficient in the rolled steel segment, which ended the quarter with a decline.

The likely drivers of the March recovery were improvements in the energy supply situation following winter restrictions, the gradual return of production capacity to operation, and a certain stabilization of demand, which allowed companies to increase capacity utilization.

As a reminder, in 2025, Ukraine’s steel industry increased production of commercial rolled metal by 4.8% year-on-year, to 6.52 million tons. Pig iron production last year rose by 11.2% year-on-year to 7.88 million tons, while steel production fell by 2.2% year-on-year – to 7.41 million tons. The sector’s indicators continued to grow last year, reaching their highest levels since the start of the full-scale invasion, with the exception of steel production.

In its December forecast, GMK Center estimated the potential steel output in 2026 at 7.2 million tons (base case), which assumes neutral dynamics compared to 2025. This is the maximum production volume under current conditions. Under a pessimistic scenario, the country faces a decline to levels close to those of 2023 — 6.3–6.6 million tons.