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.