Ukrainian metallurgical companies have significantly increased exports of flat products in January 2024 compared to January 2023 with volumes growing 4.3 times to 134.3 thousand tonnes. Revenue also increased 3.9 times year-on-year to $76.44 million.
However, compared to December 2023, January 2024 experienced a decline in both export volumes (26.4%) and revenue (20.2%). Hot-rolled flat products were exported the most during the month, with 110,500 tonnes (-30.1% m/m) for $60.16m (-25.7% m/m), followed by uncoated flat products with 19,800 tonnes (-3.1% m/m) for $11.2m (+11% m/m).
Flat products with galvanic or other coatings products were among the top three exports of flat rolled products in January 4.96 thousand tonnes (+4.2% m/m) for $4.92 million (+11.4% m/m).
Despite the short-term decline, the year-on-year growth is still encouraging, especially considering the challenges facing the Ukrainian steel industry due to the ongoing war. In 2023, total exports of flat-rolled products fell 26.4% year-on-year to 1.202 million tonnes. Revenues from exports of related products decreased by 42.2% year-on-year to $782.3 million.
Although total exports of flat-rolled products in 2023 (1.2 million tonnes) do not reach the figures for 2022 (1.63 million tonnes), they have significantly doubled compared to the period after Russia's full-scale invasion (March-December 2022). In that period, Ukrainian steelmakers were able to export only 594.54 thousand tonnes.
In monetary terms, the main buyers of Ukrainian uncoated flat hot-rolled steel are Poland and Bulgaria, which account for 40.1% and 20.5%, respectively. Poland (40.3%), Italy (24.1%) and Slovakia (9%) together consumed more than 60% of uncoated flat products. The main buyers of Ukrainian coated products were Poland (82%) and Romania (13.7%).
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