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Ukraine's exports of rolled steel products increased by 160,86 % in the first quarter

According to Ukrmetallurgprom, the Ukrainian association of mining and metallurgical companies, the first quarter of 2024 was a period of significant changes in the Ukrainian steel products market. Compared to the same period of the previous year, domestic consumption of steel products decreased by 27,3% to 610,4 thousand tonnes.

Ukraine's exports of rolled steel products increased by 160,86 % in the first quarter

In the first quarter of this year, Ukraine's imports of steel products increased by 20,67% to 250,4 thousand tonnes. This growth allowed imports to account for 41% of domestic consumption, an increase of 16,3 percentage points compared to the previous year.

It is also noteworthy that the import structure is shaped by the dominance of flat rolled products, which account for 83,15% of all imported steel products. Long products accounted for 15,22 % of this structure.

Production data also show a significant increase. Thus, Ukrainian metallurgists increased the production of rolled products by 135,5% to 1.39 million tonnes in January-March 2024. Exports amounted to about 1,029 thousand tonnes, which is 160,86% more than last year.

However, the direction of products to the domestic market decreased by 43% to 360 thousand tonnes. This is due to an increase in the share of exports, which accounted for 74.1% of total production.

Statistics also showed a change in the structure of exports, the share of flat-rolled products increased to 40.72%, while the share of long products decreased to 14.29%.

In the first quarter of 2024, the main export markets for Ukrainian rolled steel products were the European Union, accounting for 81.6% of total exports. These countries are followed by South American countries with a share of 5.8% and other European countries with a share of 5.4%. In the same period, other European countries ranked first among imported metallurgical products with a share of 42.9%. European Union countries (EU-27) ranked second with 40.4 % of total imports. Asian countries ranked third with a share of 15,8 %.

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