Zaporizhstal's rolled products

In monetary terms, the export of such products increased by 21.2% month-on-month

In November 2023, steel enterprises of Ukraine increased the export of flat products by 25.7% compared to October 2023 – to 130.4 thousand tons. In monetary terms, the export of such products increased by 21.2% m/m – up to $76.2 million. This is evidenced by State Customs Service’s data.

Compared to November 2022, in November 2023, steel enterprises of Ukraine increased the revenue from the sale of flat products by 2.4 times. Export volumes increased by 2.3 times y/y.

In January-November 2023, Ukraine exported 1.02 million tons of flat rolled products worth $686.5 million. The revenue from the sale of products abroad decreased by 48.1% compared to the same period last year, and the volume of exports – by 35.8% y/y.

Uncoated hot-rolled flat products (HS 7208) were exported the most in 11 months, amounting to 783.9 thousand tons for $501.7 million. In November, the company shipped 108.84 thousand tons (+30.4% m/m) for $60 million (+25% m/m). Also, the company exported 181.1 thousand tons of uncoated flat products (HS 7209) for $122 million, including 14.71 thousand tons (-6.6% m/m) in November for $9.16 million (-12.4% m/m).

Flat products with galvanic or other coatings (HS 7210) are among the top three types of flat products in terms of exports from Ukraine in January-November 2023 – 51.13 thousand tons worth $58.81 million. In November, steelmakers increased exports of such products by 30.4% month-on-month – to 5.64 thousand tons. Revenue from its shipment increased by 36.8% m/m – to $5.79 million.

The largest consumers of Ukrainian uncoated flat hot-rolled steel are Poland and Bulgaria, accounting for 45.5% and 18.3% in monetary terms, respectively. Poland (31.7%), Bulgaria (16.7%) and Portugal (7.9%) together consumed more than 60% of uncoated flat products. Poland (73.7%) and Romania (20.6%) were the main buyers of coated rolled products produced in Ukraine.

Given the average monthly exports of flat products, which amounted to 92.68 thousand tons in 11 months, Ukrainian steelmakers will ship about 1.1 million tons of the products abroad by the end of 2023. Although the figure will be lower than in 2022 (1.63 million tons), it will still be significantly higher than in March-December 2022. 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, with the bulk of the relevant exports last year being shipped in January-February – 1.04 million tons.

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

Steel enterprises of Ukraine inNovember, the production of rolled steel increased by 14.4% compared to the previous month and by 125% y/y – up to 499 thousand tons. In January-November 2023, Ukrainian steelmakers produced 4.86 million tons of rolled products, which is 7.2% less compared to the same period in 2022.

As GMK Center reported earlier, in 2022 Ukrainian steelmakers exported 1.63 million tons of flat rolled steel, which is 73% less compared to 2021. The revenue of steelmakers from the export of such products fell by 73.5% y/y – to $1.35 billion. The largest consumers of products were Poland, Romania, Turkiye and Bulgaria.