Ukrainian steelmakers exported 1.29 million tons of flat products in January-September

In January-September 2024, Ukrainian steel companies increased exports of flat products by 65.1% compared to the same period in 2023, to 1.297 million tons. This is evidenced by data from the State Customs Service.

Hot-rolled flat products (HS 7208) accounted for the bulk of exports, amounting to 1.1 million tons (+86.3% yoy). Over 9 months, 405.2 thousand tons of the product were shipped to Poland, 277.35 thousand tons to Bulgaria and 107.14 thousand tons to Italy.

The company also exported 148.9 thousand tons (-1.2% y/y) of cold-rolled flat products (HS 7209). The bulk was shipped to Poland – 61.09 thousand tons, Bulgaria – 21.79 thousand tons, and Italy – 11.25 thousand tons. Coated flat products accounted for another 38.8 thousand tons (-5.7% y/y) of exports (HS 7210). The company shipped 29.94 thousand tons of these products to Poland, 5.7 thousand tons to Romania and 1.75 thousand tons to Moldova.

In September, exports of flat products from Ukraine increased by 11.8% month-on-month and by 12.6% compared to September 2023 – to 178.82 thousand tons. Shipments of hot-rolled flat products increased by 8.7% m/m and 19.9% y/y – to 151.91 kt, cold-rolled flat products increased by 13.2% m/m and decreased by 39.3% y/y – to 17.63 kt, and coated flat products increased by 33.2% m/m and 84.4% y/y – to 5.49 kt.

Revenue from flat products exports in January-September 2024 increased by 47.1% y/y – to $805.44 million, and in September – by 17.7% m/m and 21.5% y/y – to $115.82 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.