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Recovery seen in Ukrainian steel market

Ukraine, which had to reduce its capacity in the steel sector by half since the war with Russia, started to increase its capacity again by adapting to the new conditions.

Recovery seen in Ukrainian steel market

In January-May 2023, the capacity of the Ukrainian steel products market (excluding pre-painted steel) is estimated at about 1 million tons; this rate is about 1% lower compared to the same period last year.

In January-May 2023, the demand dynamics in different steel product segments differed greatly; Compared to the same period of the previous year, the highest percentage growth is seen in the cold rolled steel segment, which grew by 34% to 88 thousand tons. For hot rolled steel, the capacity decreased slightly by 4% to 310 thousand tons.

While a seasonal recovery has been observed in the spring months since the beginning of 2023; Cold rolled steel has increased from 12 thousand tons to 19 thousand tons since January, and galvanized steel has increased from 14 thousand tons to 16-18 thousand tons. The increase in hot rolled flat products, on the other hand, increased from 31 thousand tons in January to 74 thousand tons in spring. A significant recovery was observed in the long products segment from 10 thousand tons to 22 thousand tons.

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