Ukrainian rolled metal market down 8% in Jan-Nov 2024, imports accounting for 38%

MOSCOW. Dec 11 (Interfax) - Ukraine businesses reduced the consumption of rolled metal products by 7.95% to 2.996 million tonnes in January-November 2024 compared to the same period last year.

Imports of rolled metals into Ukraine amounted to 1.136 million tonnes, or 37.91% of the domestic market, in the reporting period, Ukrainian media reported citing the Ukrmetalurgprom association as saying in a statement on Wednesday.

Ukrainian steelmakers produced 5.741 million tonnes of metal products in January-November 2024, or 118% compared to the same period in 2023, 3.881 million tonnes of which, or 67.6%, was exported, the Ukrainian State Customs Service said. Exports in the same period of 2023 amounted to 54.4%, or 2.664 million tonnes, with the total output of metal products of 4.864 million tonnes.

Semi-products accounted for 46.26% of total exports in January-November 2024, which was noticeably more than in the same period in 2023 (41.79%). The share of flat products grew slightly to 39.04% in January - November 2024 compared to 38.46% the same period of 2023, while the share of long products declined significantly to 14.71% from 19.74%, respectively.

"Total domestic demand for metal products in January-November 2024 was 2.996 million tonnes, of which 1.136 million tonnes, or 37.91%, had been imported. In the same period of 2023, domestic consumption was 3.254 million tonnes, of which 1.034 million tonnes, or 31.78%, was imported. Therefore, domestic demand for metal products decreased in January-November 2024 by 7.95% compared to the same period in 2023, while the share of imports increased by 6.13%," Ukrmetalurgprom's statement said.

As before, the share of flat products in the structure of metal product imports in January-November 2024 significantly exceeded that of long products (78.87% and 19.52%, respectively), compared to 75.23% and 23.98%, respectively, in the same period in 2023.

According to the State Customs Service, the principal export markets for Ukrainian rolled metal products in January-November 2024 were European Union countries (70.3%), Africa (10.5%), and other European countries (8.1%).

Among countries from which Ukraine imported metal products, non-EU countries accounted for 50.6%, EU countries 28%, and Asian countries 20%.

As reported previously, Ukraine's market of rolled metal products grew 119% to 3.506 million tonnes in 2023 compared to 2022, with 1.119 million tonnes of them imported (31.91% of the domestic market).