Ukrainian steelmakers reduced pig iron exports by 37% m/m in July

In July 2023, Ukrainian steel companies reduced the export of pig iron by 37% compared to the previous month – to 106.7 thousand tons. In monetary terms, the supply of pig iron abroad over this period fell by 42.2% m/m. – to $37.73 million. This is evidenced by the data State Customs Service.

Compared with July 2022, in July 2023, pig iron exports in physical terms decreased by 25.4%, and in monetary terms – by 57.2%.

In January-July 2023, Ukraine exported 906.4 thousand tons of pig iron for $346.88 million. Export volumes increased by 16.6% compared to the same period in 2022, while revenue decreased by 18.1%.

The main consumer of Ukrainian pig iron in January-July 2023 was Poland (63.5%). The share of Spain in total exports amounted to 19.9%. In third place is the Czech Republic – 7.2%. Before the war, more than half of the pig iron exported from Ukraine was consumed by the United States.

It should be noted that in July this year, Ukrainian metallurgists increased iron smelting by 10.7% compared to the previous month – up to 538 thousand tons.

The positive result of the industry in July was largely shaped by the improvement of Zaporizhstal’s production indicators. In July steel plant increased production of rolled products by 48.7% compared to the previous month – up to 196.1 thousand tons, production of pig iron – by 31.6% m/m, up to 262 thousand tons, steel smelting – by 51% m/m, up to 240.7 thousand tons. In particular, the increase in the indicators of Zaporizhstal is connected with the removal of blast furnace №2 from hot preservation mode and the adjustment of the operating mode of three blast furnaces.

As GMK Center reported earlier, in 2022, Ukrainian steel companies reduced the export of pig iron by 59% compared to 2021 – to 1.32 million tons. The income of steelmakers from the export of pig iron last year amounted to $638.8 million, which is 61.1% less than in 2021. The main consumer of raw materials was the USA – 38.47% of the total volume of exports.