According to the latest data of the State Customs Service of Ukraine, Ukrainian metallurgical enterprises reduced exports of semi-finished products in March 2024 by 38,7 % compared to the previous month to 86,99 thousand tonnes.
However, this figure increased by 0,1 % compared to March 2023. Export volumes reached the lowest level since November 2023.
In the first quarter of 2024, exports of semi-finished products from Ukraine increased 2.3 times compared to the same period in 2023 and reached 451.15 thousand tonnes. Revenue from exports also increased by 2.2 times and amounted to 221.18 thousand tonnes.
The largest consumer of Ukrainian semi-finished products remained Bulgaria, which accounted for 34.2% of total exports by value in January-March 2024. Poland and Italy were also among the major importers, accounting for 20 and 10 %, respectively.
The introduction of new sanctions and the partial opening of sea exports are expected to affect the future trends of the Ukrainian steel sector.
Attention was also drawn to the EU's decision to extend slab import quotas from Russia for another four years. The total quota for the period from October 2024 to September 2028 is expected to be 8.5 million tonnes, with a more detailed breakdown by period.
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