Steel smelting for the month reached 558,000 tons, and pig iron – 486,000 tons

In September 2023, steel enterprises of Ukraine increased the production of rolled products by 3.4% compared to the previous month – to 523 thousand tons. This is evidenced by Ukrmetalurgprom’s data.

Pig iron smelting in September 2023 decreased by 9% compared to August of the current year – to 486,000 tons. Steel production for the month was 558,000 tons, which is 7.3% less month-on-month.

Compared to September 2022, the production of rolled products increased by 2.1 times as of September 2023, steel smelting – by 64.1%, and pig iron – by 56.8%.

In January-September 2023, Ukrainian steelmakers produced 3.93 million tons of rolled steel, which is 16.9% less than in the same period of 2022. Steel production decreased by 16.9% y/y in 9 months – to 4.59 million tons, and pig iron – by 19.5% y/y, to 4.39 million tons.

More and more ships dare to use the temporary corridor opened in August in the direction from and to the ports of Great Odesa. During the two months of operation of the corridor, 5 vessels transported approximately 88 thousand tons of steel products and more than 172 thousand tons of iron ore from Ukrainian ports. The last figure is given without taking into account the load of iron ore on the bulker Ying Hao 01, which was estimated to be able to accept 70 thousand tons of iron ore.

Full port unblocking for all types of products will bring Ukraine $20 billion in foreign exchange earnings per year, tax revenues – more than $5 billion.

As GMK Center reported earlier, in 2022 steelmakers of Ukraine reduced steel production by 70.7% compared to 2021 – to 6.26 million tons. The production of rolled products fell by 72% y/y – to 5.35 million tons, and pig iron smelting fell by 69.8% y/y – to 6.39 million tons.