Ukraine increased revenue from ferrous metal exports by 16.6% y/y in January-April

In January-April this year, Ukraine’s steel enterprises increased revenues from ferrous metal exports by 16.6% year-on-year – to $959.76 million. This is according to the State Customs Service, Interfax-Ukraine reports.

Ferrous metals accounted for 7.14% of total revenues from exports of goods in four months, compared to 6.18% in January-April 2023.

In April 2024, revenues from exports of ferrous metals amounted to $207.26 million.

At the same time, Ukraine increased imports of similar products by 25.8% – to $454.03 million in January-April 2024. In April, products worth $131.17 million were imported.

In addition, in the first four months of 2024, Ukraine reduced exports of steel products by 8.1% – to $306.98 million. In April, they were exported for $77.11 million. Imports of steel products during this period increased by 47.2% – to $326.39 million. In April, these products were imported for $92.39 million.

Ukraine exported 1.78 million tons of rolled steel in 2023, up from 2.47 million in 2022 and 8.34 million tons – in 2021. Imports of the relevant products reached 1.18 million tons last year, 621.6 thousand tons – in 2022, and 1.12 million tons – in 2021.

As GMK Center reported earlier, in 2023, Ukrainian steelmakers increased rolled steel production by 0.4% compared to 2022, to 5.37 million tons. Pig iron production during the year amounted to 6 million tons, down 6.1% compared to 2022, and steel production amounted to 6.23 million tons (-0.6% y/y).