Ukraine produced 3.1 million tons of rolled steel in the 1H2025

In January-June 2025, Ukrainian steel enterprises reduced the production of commercial rolled metal by 2.2% compared to the same period in 2024, to 3.07 million tons. This is evidenced by data from Ukrmetprom.

Pig iron production increased by 5.8% y/y – to 3.67 million tons, while steel production fell by 4.9% y/y – to 3.68 million tons.

During the second quarter, the country’s metallurgists produced 1.63 million tons of rolled products (-6.6% y/y; +13.9% q/q), 1.97 million tons of pig iron (+4.7% y/y; +15.5% q/q), and 1.95 million tons of steel (-10.9% y/y; +12.5% q/q).

In June of this year, rolled steel production increased by 7.3% compared to the previous month, but decreased by 1.5% compared to June 2024, to 563,000 tons. Pig iron smelting increased by 2.7% y/y and 5.3% m/m – to 661,900 tons, while steel smelting fell by 2.3% y/y and 15.4% m/m – to 621,400 tons.

As GMK Center reported earlier, in 2024, Ukraine’s steel industry increased rolled steel production by 15.8% compared to 2023, from 5.37 million tons to 6.22 million tons. Last year, pig iron production increased by 18.1% y/y, from 6 million tons to 7.09 million tons, and steel production increased by 21.6% y/y, from 6.23 million tons to 7.58 million tons.

The industry’s results in 2024 turned out to be much better than expected. At the same time, according to GMK Center analysts’ forecasts, 2025 will be a difficult year as the global steel market is going through a crisis period. Steel exports from Ukraine are likely to decline, the price situation will deteriorate, and import restrictions will tighten around the world..