Ukrainian steelmakers exported 832.9 thousand tons of flat rolled products in the first half of the year

Steel companies of Ukraine in January-June 2024 increased exports of flat rolled products by 2.8 times compared to the same period in 2023 – up to 832.9 thousand tons, according to the data of the State Customs Service.

The main export volume falls on flat hot-rolled steel (HS 7208) – 701.38 thousand tons (+3.1 times y/y). For 6 months, 159.7 thousand tons of the corresponding products were shipped to Poland, 172.7 thousand tons to Bulgaria, and 71.58 thousand tons to Italy.

103.39 thousand tons (+58.4% y/y) of cold-rolled flat steel (HS 7209) were also exported. The main volume was directed to Poland – 37.26 thousand tons, Bulgaria – 13.43 thousand tons, and Italy – 11.25 thousand tons. Another 25.92 thousand tons (+2.4 times y/y) of exports accounted for flat rolled products with a coating (HS 7210). 20.25 thousand tons of the corresponding products were shipped to Poland, 4.13 thousand tons to Romania, and 0.9 thousand tons to Moldova.

In June, exports of flat rolled products from Ukraine increased by 8.5% compared to the previous month, and by 27.2% compared to June 2023 – up to 156.4 thousand tons. Shipments of flat hot-rolled products increased by 14.7% m/m and 51.9% y/y – up to 135.34 thousand tons of flat cold-rolled steel – fell by 24.7% m/m and 30.8% y/y, up to 16.81 thousand tons, while coated flat products decreased by 13.6% y/y and 67.9% y/y, up to 3.04 thousand tons.

Revenue from exports of flat rolled products in January-June 2024 increased by 67.2% y/y – up to $515.42 million, and in June – by 0.6% m/m and decreased by 0.03% y/y – to $94.2 million.

In 2023, Ukraine reduced exports of flat rolled products by 26.4% compared to 2022 – up to 1,202 million tons. Revenue from exports of relevant products for the year decreased by 42.2% y/y – up to $782.3 million.

Although the export rate in 2023 is less than in 2022 (1.63 million tons), it is still significantly higher than in March-December 2022 (the period after the start of a full-scale invasion). From the beginning of the full-scale Russian invasion until the end of 2022, steelmakers of Ukraine exported only 594.54 thousand tons of flat rolled products, and the main volume of the corresponding export for 2022 was shipped in January-February – 1.04 million tons.

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