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Ukraine's steel industry showed significant growth in 2024

Despite challenges faced by the global steel and metallurgical industry in 2024, Ukraine demonstrated remarkable growth, solidifying its position as a significant player in global pig iron and steel production.

Ukraine's steel industry showed significant growth in 2024

In 2024, Ukraine produced 7.09 million tons of pig iron, an impressive 18.10% increase compared to 2023. This growth secured Ukraine the 13th position among 40 pig iron-producing countries, underscoring the nation’s ability to adapt and excel despite ongoing economic and geopolitical pressures.

Globally, pig iron production declined by 1.31%, totaling 1,391.49 million tons, with the majority (1,265.92 million tons) produced through blast furnace methods. While leading producer China saw its pig iron output drop by 2.30% to 851.74 million tons, Ukraine bucked the trend with substantial year-on-year growth.

In steel production, Ukraine achieved even more remarkable results. The country produced 7.58 million tons of steel in 2024, a significant 21.64% increase compared to 2023. This performance earned Ukraine the 20th position among 71 steel-producing nations.

While global steel production fell slightly by 0.91% to 1,839.45 million tons, Ukraine’s sharp rise contrasts starkly with declines seen in leading markets. China, the world’s largest steel producer, recorded a 1.70% drop in output, producing 1,005.09 million tons.

In an interview with GMK Center, Mauro Longobardo, highlighted that while global steel production faced a downturn, Ukraine’s focus on exports to regions less impacted by declining demand may have been a key driver of its growth.

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