Supplies of scrap metal to Ukraine's metallurgical enterprises rise 1.7-fold in H1, exports 35.3%

MOSCOW. Aug 19 (Interfax) - Ukraine's enterprises that operate with ferrous scrap metal boosted supplies to the country's metallurgical enterprises 1.7-fold year-on-year to 687,000 tonnes in January-June 2024, Ukrainian media reported, citing information from the Ukrainian Association of Secondary Metals (UAVtormet).

Procuring scrap metal increased 1.6-fold to 860,000 tonnes in H1 2024.

Exports of scrap metal surged 35.3% to 124,500 tonnes in the reporting period.

UAVtormet forecasts that Ukraine should smelt 7 million to 7.2 million tonnes of steel in 2024 versus 6.228 million tonnes in 2023 and 6.263 million tonnes in 2022; and should procure 1.75 million to 1.85 million tonnes of scrap metal against about 1.277 million tonnes in 2023 and 996,700 tonnes in 2022. Metallurgical enterprises should also utilize 1.4 million to 1.5 million tonnes of scrap versus nearly 1.035 million tonnes in 2023 and 895,700 tonnes in 2022; and export 250,000-300,000 tonnes of scrap metal against 182,500 tonnes and 53,600 tonnes, respectively, ramping up exports of raw materials strategic for metal manufacturers by 37%-64% year-on-year in 2024.