Exclusive Ukrainian steelmakers reduced exports of semi-finished products by 26% y/y in 2025

During the year, most of the products were exported to Bulgaria, Turkey, and Poland

In 2025, Ukrainian steel companies reduced exports of semi-finished steel products by 26.4% compared to the same period in 2024, to 1.39 million tons. This is evidenced by GMK Center calculations based on data from the State Customs Service.

The main destinations for semi-finished products exports during the period were Bulgaria – 461,340 tons (-22.5% y-o-y), Turkey – 216.34 thousand tons (+0.3% y/y), Poland – 291.41 thousand tons, and Egypt – 99.26 thousand tons (-72.1% y/y).

In December, Ukrainian steel companies exported 163.02 thousand tons of semi-finished products, which is 11.8% more than in the previous month and 33.3% more than in December 2024. This is the highest figure since September 2024.

In December, 34.7 thousand tons of semi-finished products were shipped to Bulgaria (-10.6% month-on-month; -33% y/y), 10.68 thousand tons to Turkey (-45% m/m; +6.6% y/y), and 41.99 thousand tons to Poland (-37.7% m/m). Egypt did not import any Ukrainian products in December.

In Q4, exports of semi-finished products increased by 25.4% compared to the same period in 2024, and by 18.5% compared to the previous quarter, to 446.67 thousand tons.

Export revenue for 12 months decreased by 28.9% y/y – to $659.62 million, in December it increased by 15.3% m/m and 37.3% y/y – to $78.53 million, and in Q4 – by 23.9% y/y and 21.9% q/q, to $209.38 million.

As reported by GMK Center, Ukraine increased its exports of semi-finished steel products by 56.7% in 2024 compared to 2023, from 1.2 million tons to 1.89 million tons.

Export shipments increased due to the resumption of maritime exports to distant markets, in particular to Egypt – 356,170 tons (+1,233% y-o-y). 595,020 tons of products were sent to Bulgaria (+30% y/y), and 215,760 tons to Turkey.

The main surge in exports occurred in the third quarter (641,900 tons), which contributed to a significant increase in annual export volumes. Ukrainian steelmakers’ export revenues for the year increased by 52.4% to $927.55 million.