Ukrainian steelmakers exported 1.45 million tons of flat products in January-October

In January-October 2024, Ukrainian steelmaking companies increased exports of flat products by 62.9% compared to the same period in 2023, to 1.45 million tons. This is evidenced by data from the State Customs Service.

Hot-rolled flat products (HS 7208) accounted for the bulk of exports – 1.22 million tons (+80.3% y/y). Over 10 months, 450.6 thousand tons of the product were shipped to Poland, 313.51 thousand tons to Bulgaria and 124.36 thousand tons to Italy.

The company also exported 172.71 thousand tons (+3.8% y/y) of cold-rolled flat products (HS 7209). The bulk was shipped to Poland – 67.36 thousand tons, Bulgaria – 25.36 thousand tons, and Italy – 19.82 thousand tons. Another 45.48 thousand tons (+0% y/y) of exports were accounted for by coated flat products (HS 7210). The company shipped 33.77 thousand tons of these products to Poland, 6.86 thousand tons to Romania and 1.94 thousand tons to Moldova.

In October, exports of flat products from Ukraine decreased by 15.1% compared to the previous month and increased by 46.3% compared to October 2023 to 151.74 thousand tons. Shipments of hot-rolled flat products decreased by 24.1% m/m and increased by 38.1% y/y – to 115.3 thousand tons, cold-rolled flat products increased by 35.1% m/m and 51.2% y/y – to 23.81 thousand tons, and coated flat products increased by 21.3% m/m and 54% y/y – to 6.66 thousand tons.

Revenue from flat products exports in January-October 2024 increased by 47.3% y/y – to $898.77 million, while in October it decreased by 19.4% m/m and increased by 48.4% y/y – to $93.33 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.