Ferrous metals accounted for 8.1% of the total volume of export revenue for the month
In January 2024, Ukrainian steel companies increased their revenues from ferrous metal exports by 65.4% compared to January 2023, to $274.1 million. This is according to the State Customs Service, Interfax-Ukraine reports .
Ferrous metals represented 8.1% of total export earnings in the month, up from 5.3% in January 2024.
Furthermore, in January, Ukraine increased revenues from exports of metal products by 3.5% – to 64.33 million dollars. Imports of these products increased 41.7%, to US$72.65 million.
In December 2023, revenues from exports of ferrous metals amounted to 214.5 million dollars, while in the previous month – 174.38 million dollars. Imports of these products totaled US$ 107.37 million. Exports of steel products in December reached US$56.08 million, while imports totaled US$74.19 million.
As previously reported by Compraço, in 2023, Ukrainian steel mills increased rolled steel production by 0.4% compared to 2022, to 5.37 million tons. Pig iron production in the year was 6 million tons, a drop of 6.1% compared to 2022, and steel production was 6.23 million tons (-0.6% per year).
The domestic steel industry has increased to or approached 2022 levels, where most production occurred between pre-war January and February. Companies are gradually adapting to doing business, but limited logistics capabilities still have a negative impact on performance.
Exports of rolled steel products in 2023 totaled 1.78 million tons, while in 2022 they were 2.47 million, and in 2021 – 8.34 million tons. Imports of relevant products reached 1.18 million tons last year, 621.6 thousand tons in 2022 and 1.12 million tons in 2021.
