Ukraine's Steel Exports Surge Amidst Wartime Challenges
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Despite the ongoing conflict, Ukraine has witnessed a significant increase in its steel exports during the first ten months of 2024. The Ukrainian Steel Association Ukrmetallurgprom reported a 63% year-on-year surge in flat steel exports, reaching 1.5 million metric tons (mt). Similarly, semi-finished steel exports climbed by 58.5% to 1.71 million mt.
Section steel exports also saw a notable increase, rising by 21.9% to 528,000 mt during the same period.
In contrast, domestic steel consumption in Ukraine declined by 9.9% year-on-year to 2.62 million mt. Imports accounted for 1.04 million mt of this consumption.
Ukraine's steel imports also experienced growth, with flat steel imports increasing by 8.9% to 823,400 mt and section steel imports rising by 12.1% to 196,100 mt. Semi-finished steel exports amounted to 16,200 mt, a significant increase from the previous year's 8,200 mt.
The European Union (EU-27) remained the primary export market for Ukraine, accounting for 70.1% of total exports. Africa and other European countries followed, with shares of 11.1% and 7.6%, respectively.
In terms of imports, other European countries were the largest source of steel products for Ukraine, followed by the EU-27 and Asia.
These figures highlight the resilience of Ukraine's steel industry, which continues to operate despite the ongoing conflict. The surge in exports indicates the strong demand for Ukrainian steel products in international markets.
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Despite the ongoing conflict, Ukraine has witnessed a significant increase in its steel exports during the first ten months of 2024. The Ukrainian Steel Association Ukrmetallurgprom reported a 63% year-on-year surge in flat steel exports, reaching 1.5 million metric tons (mt). Similarly, semi-finished steel exports climbed by 58.5% to 1.71 million mt.
Section steel exports also saw a notable increase, rising by 21.9% to 528,000 mt during the same period.
In contrast, domestic steel consumption in Ukraine declined by 9.9% year-on-year to 2.62 million mt. Imports accounted for 1.04 million mt of this consumption.
Ukraine's steel imports also experienced growth, with flat steel imports increasing by 8.9% to 823,400 mt and section steel imports rising by 12.1% to 196,100 mt. Semi-finished steel exports amounted to 16,200 mt, a significant increase from the previous year's 8,200 mt.
The European Union (EU-27) remained the primary export market for Ukraine, accounting for 70.1% of total exports. Africa and other European countries followed, with shares of 11.1% and 7.6%, respectively.
In terms of imports, other European countries were the largest source of steel products for Ukraine, followed by the EU-27 and Asia.
These figures highlight the resilience of Ukraine's steel industry, which continues to operate despite the ongoing conflict. The surge in exports indicates the strong demand for Ukrainian steel products in international markets.
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