Ukrainian steel companies reduced exports of semi-finished products by 36% y/y in January-July

In January-July 2025, Ukrainian steel companies reduced exports of semi-finished steel products by 36.3% compared to the same period in 2024, to 705,620 tons. This is evidenced by GMK Center calculations based on data from the State Customs Service.

The key destinations for semi-finished products exports during the period were Bulgaria – 278.4 thousand tons (-26.2% y/y), Turkey – 120.07 thousand tons (+14.4% y/y), Poland – 98.48 thousand tons, and Egypt – 51.02 thousand tons (-65.7% y/y).

In July, Ukrainian metallurgical companies exported 140.94 thousand tons of semi-finished products, which is 140.5% more than in the previous month, but 41% less than in July 2024. The indicator reached its maximum since April.

Last month, 39.76 thousand tons of semi-finished products were shipped to Bulgaria (+27.6% month-on-month; -42.4% y/y), Turkey – 35.77 thousand tons (-3.3% y/y), Egypt – 29.09 thousand tons (-64.7% y/y), Poland – 5.03 thousand tons (-76.4% m/m).

Export revenue for the first seven months decreased by 37.6% y-o-y to $342.98 million, while in July it fell by 41% y-o-y and increased by 118.3% m-o-m – to $64.49 million.

As GMK Center reported earlier, in 2024, Ukraine increased its exports of semi-finished steel products by 56.7% compared to 2023, from 1.2 million tons to 1.89 million tons.

Export shipments increased due to the resumption of maritime exports to distant markets, in particular to Egypt – 356.17 thousand tons (+1233% y/y). Bulgaria received 595,020 tons of products (+30% y/y), and Turkey received 215,760 tons. The main surge in exports occurred in the third quarter (641,900 tons), which contributed to a significant increase in annual export volumes.

Ukrainian steelmakers’ export revenues for the year increased by 52.4% – to $927.55 million.