Ukrainian steelmakers increased the production of rolled products by 14.4% m/m in November

Steel production fell by 4.7% m/m during the month, and pig iron production increased by 5.7% m/m

Ukrainian steel enterprises increased rolled steel production by 14.4% in November 2023 compared to the previous month – up to 499 thousand tons. This is evidenced by the data of Ukrmetalurgprom.

Pig iron production in November 2023 increased by 5.7% compared to October this year – up to 541 thousand tons. Steel production for the month amounted to 545 thousand tons, down 4.7% m/m.

Compared to November 2022, rolled steel production in November 2023 increased by 125%, steel production by 74.1%, and pig iron – by 61.5%.

In January-November 2023, Ukrainian steelmakers produced 4.86 million tons of rolled steel, down 7.2% year-on-year. Over 11 months, steel production decreased by 7.3% y/y – to 5.71 million tons, and pig iron production decreased by 11.3% y/y – to 5.45 million tons.

A temporary corridor to and from the ports of Greater Odesa was launched in August this year. In November, 14 vessels exported a total of 620 thousand tons of iron ore and 140 thousand tons of steel products from Odesa and Pivdennyi ports.

In October, the Ukrainian steelmaker exported approximately 507 kt of iron ore (four bulk carriers from Pivdennyi) and 213.5 kt of steel products (two vessels from Odesa) through the ports of Greater Odesa.

As GMK Center reported earlier, in 2022, Ukrainian steelmakers reduced steel production by 70.7% compared to 2021, to 6.26 million tons. Rolled steel production dropped by 72% y/y – to 5.35 million tons, while pig iron production fell by 69.8% y/y – to 6.39 million tons.