Ukrainian steelmakers in June produced 571 thousand tons of rolled products

Steel enterprises of Ukraine at the end of June 2024 reduced the production of rolled steel by 3.9% compared to the previous month – to 571.5 thousand tons. This is evidenced by the data of Ukrmetalurgprom.

Steel production for the month amounted to 734.7 thousand tons, which is 0.4% less than in May of this year, and pig iron – 628.6 thousand tons (-3.8% m/m).

The monthly production rate by steelmakers has slowed down, as domestic enterprises face a number of challenges, in particular, the deterioration of the situation in the country’s energy system, lack of personnel due to mobilization and an imperfect booking system, logistical problems and unfavorable conditions in the global steel market.

Compared to June 2023, in June of this year, rolled steel production increased by 45.8%, steel production – by 68.4%, and pig iron – by 29.4%.

In January-June 2024, the production of rolled products by Ukrainian steel enterprises increased by 32.3% compared to the same period in 2023 – to 3.14 million tons, steel – by 36.9%, to 3.87 million tons, and pig iron – by 22.2%, to 3.47 million tons.

As GMK Center reported earlier, by the end of 2023, Ukrainian steelmakers increased the production of rolled products by 0.4% compared to 2022 – up to 5.37 million tons. Pig iron production during the year amounted to 6 million tons, which is 6.1% less than in 2022, and steel – 6.23 million tons (-0.6% y/y).

The domestic steel industry in war conditions increased or approached the indicators of 2022, where the main share of production was pre-war January-February.

Exports of rolled steel for 2023 amounted to 1.78 million tons, while in 2022 – 2.47 million, and in 2021 – 8.34 million tons. Imports of the same products last year reached 1.18 million tons, in 2022 – 621.6 thousand tons, and in 2021 – 1.12 million tons.