Ukrainian steelmakers exported 1.12 million tons of flat products in January-August

In January-August 2024, Ukrainian steel companies increased exports of flat products by 78.4% compared to the same period in 2023, to 1.12 million tons. This is evidenced by data from the State Customs Service.

Hot-rolled flat products (HS 7208) accounted for the bulk of exports – 950.05 thousand tons (+2 times y/y). Over 8 months, 334.09 thousand tons of the product were shipped to Poland, 244.09 thousand tons to Bulgaria and 107.14 thousand tons to Italy.

The company also exported 131.3 thousand tons (+7.9% y/y) of cold-rolled flat products (HS 7209). The bulk was shipped to Poland – 49.8 thousand tons, Bulgaria – 19.64 thousand tons, and Italy – 11.25 thousand tons. Coated flat products accounted for another 33.3 thousand tons (-12.7% y/y) of exports (HS 7210). The company shipped 25.72 thousand tons of these products to Poland, 5 thousand tons – to Romania and 1.4 thousand tons – to Moldova.

In August, exports of flat products from Ukraine increased by 27.8% compared to the previous month and by 47% compared to August 2023, to 160 thousand tons. Shipments of hot-rolled flat products increased by 28.2% m/m and 65% y/y – to 139.72 thousand tons, cold-rolled flat products increased by 26.6% m/m and decreased by 11.6% y/y – to 15.58 thousand tons, and coated flat products increased by 25.7% m/m and decreased by 26.2% y/y – to 4.12 thousand tons.

Revenue from flat products exports in January-August 2024 increased by 52.6% y/y – to $689.62 million, and in August – by 29.9% m/m and 34.1% y/y – to $98.44 million.

As GMK Center reported earlier, in 2023, Ukraine reduced exports of flat products by 26.4% compared to 2022, to 1.202 million tons. Revenues from exports of the relevant products decreased by 42.2% y/y – to $782.3 million.

Although exports in 2023 are lower than in 2022 (1.63 million tons), they are still significantly higher than in March-December 2022 (the period after the start of the full-scale invasion). From the beginning of the full-scale Russian invasion until the end of 2022, Ukrainian steelmakers exported only 594.54 thousand tons of flat products, and the bulk of the relevant exports in 2022 were shipped in January-February – 1.04 million tons.

Thus, in 2023, Ukrainian steelmakers doubled last year’s figures, excluding the pre-war January-February period.