Ukraine exported 144.1 thousand tons of flat products in May

In May 2024, Ukrainian steel companies increased exports of flat products by 27.5% compared to the previous month, reaching 144.1 thousand tons. Exports increased by 23.7% compared to May 2023. This is evident from data from National Customs.

Export revenues rose 24.3% in May compared to April and 5.2% year-on-year – to $93.63 million.

In January-May 2024, Ukrainian steel companies exported 676.52 thousand tons of flat products, an increase of 2.2 times year on year. Export revenues for 5 months increased by 96.8% year-on-year – to $421.22 million.

In January and May, the largest exports were uncoated flat hot-rolled products (HS 7208), accounting for 566.04 thousand tons for US$340.5 million. In May, the company shipped 118,000 tonnes (+17% m/m) for $73.83 million (+14% m/m). The company also exported 86.6 thousand tons of uncoated flat products (HS 7209) worth $56.13 million, up from 22.32 thousand tons (+147% m/m) in May and worth $15.51 million (+126.5% m/m).

Flat products with galvanic or other coatings (HS 7210) were among the top three types of flat products in terms of exports from Ukraine in January-May 2024, with 22.88 thousand tons worth $23.5 million. In May, steel producers increased exports of such products by 23.4% month-on-month – to 3.52 thousand tons. Shipping revenues increased 18.4% m/m – to $4 million.

The largest consumers of Ukrainian uncoated flat hot-rolled steel are Poland and Bulgaria, accounting for 42.9% and 22.8% respectively in monetary terms. Poland (40.3%) and Bulgaria (14.1%) together consumed more than 50% of uncoated flat cold-rolled products. Poland (71.9%) and Romania (20.7%) were the main buyers of Ukrainian coated products.

As GMK Center previously reported, in 2023 Ukraine reduced exports of flat products by 26.4% compared to 2022, to 1.202 million tons. Revenues from exports of the relevant products fell 42.2% year-on-year – to $782.3 million.

Although exports in 2023 are lower than in 2022 (1.63 million tons), they are still significantly higher than in March-December 2022 (the period after the start of the large-scale invasion). From the beginning of the large-scale Russian invasion until the end of 2022, Ukrainian steel producers exported only 594.54 thousand tons of flat products, and most of the relevant exports in 2022 were shipped in January-February – 1.04 million tons.

For example, in 2023, Ukrainian steel producers doubled last year’s figures, excluding the pre-war January-February period.

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