Ukrainian steelmakers exported 614 thousand tons of long products in 2024

In 2024, Ukrainian steel enterprises increased exports of long products by 17.3% compared to 2023 – from 523.34 thousand tons to 613.73 thousand tons. In 2022, these volumes amounted to 768.13 thousand tons, and in 2021 – 2.1 million tons. This is based on GMK Center’s calculations based on the State Customs Service data.

Hot-rolled rods and bars made of carbon steel in coils (HS 7213) accounted for more than 42% of total long products exports, amounting to 258.33 thousand tons (+23% compared to 2023). Most of the products were exported to Romania – 112.21 thousand tons (+43.8% y/y). Another 78.04 thsd tonnes were exported to Poland (+14% y/y), and 22.34 thsd tonnes to Israel, where Ukrainian products were not exported in 2023.

Last year, Ukrainian producers also exported 148.99 thousand tons of other rods and bars of carbon steel, without further processing, twisted (HS 7214), which is 24.3% more than in the previous year. The company shipped 58.28 thousand tons (+127.2% y/y) to Moldova, 51.59 thousand tons (+137.2%) to Poland, and 26.52 thousand tons to Israel (0 thousand tons in 2023).

Another 138.07 thousand tons (+9.2% y/y) of exports were accounted for by carbon steel wire (HS 7217). Key consumers include: Poland – 50.43 thousand tons (-0.6% y/y), Germany – 26.49 thousand tons (+8% y/y), Czech Republic – 17.41 thousand tons (+51% y/y).

In December 2024, exports of long products from Ukraine amounted to 43.48 thousand tons, down 15% compared to December 2023 and up 1.5% month-on-month. Shipments of hot-rolled rods and bars made of carbon steel in coils amounted to 17.8 thousand tons (-19% y/y; +4.4% m/m), other rods and bars in coils), other rods and bars of carbon steel, without further processing, and twisted – 10.16 thousand tons (-3.6% y/y; -3.9% m/m), and wire – 10.99 thousand tons (-23% y/y; +2.3% m/m).

Thus, in 2024, there was an increase in demand for long products made in Ukraine both from European countries and in remote markets, thanks to the reopening of the sea corridor for mining and metals cargo. In particular, Israeli consumers have become more interested in Ukrainian products due to the deterioration of trade relations between Israel and Turkey, which previously dominated as the main supplier of the relevant goods. In Europe, the situation in the construction sector has stabilized somewhat, which has contributed to the growth in demand for long products. Despite the difficult situation in the domestic market, Ukrainian producers have prospects for further production growth, as their current capacity utilization ranges from 50-75%.

In 2024, foreign exchange earnings from long products exports increased by 15.1% y/y – to $452.18 million, while in December they decreased by 14.6% y/y and 4.4% m/m – to $31.19 million.

As GMK Center reported earlier, in 2023, Ukraine increased imports of flat steel products by 93.2% compared to 2022, up to 908.2 thousand tons. Import costs increased by 48.4% y/y – to $1.03 billion. The largest suppliers of products were Turkey, Romania, Slovakia and China.