UK's iron and steel imports from Ukraine fall by 37%

Imports of metallurgical raw materials from Ukraine to the UK fell by 49.3% y/y, to 20.9 thousand tonnes. Iron ore and scrap metal of Ukrainian origin were not supplied to Britain last year. The supply of pig iron increased 2.9 times compared to 2022 - to 9.43 thousand tonnes. Import of ferroalloys from Ukraine amounted to 7.12 thousand tonnes, which is 3.6 times more than y/y, semi-finished products import showed significant decrease of 87.9% compared to the previous year to 4.35 thousand tonnes

In 2023, shipments of finished products of Ukrainian steelmakers to the UK increased by 0.6% y/y, to 13.69 thousand tonnes compared to 2022. The main volume of imports - flat hot-rolled steel 7.2 thousand tonnes (+61.9% y/y), flat cold-rolled steel 5.6 thousand tonnes (-4.3% y/y), About 1 thousand tonnes of imports of rolled products account for wire and rods of different grades.

Overall, Ukraine in 2023 reduced iron ore exports by 26% y/y to 17.7 million tonnes compared to 2022. Exports of pig iron fell by 5.8% y/y to 1.25 million tonnes, semi-finished products by 36.7% y/y to 1.2 million tonnes, ferroalloys by 4.9% y/y to 344,200 tonnes, long products by 31.4% y/y to 523,800 tonnes, and flat products by 26.4% y/y to 1.2 million tonnes.

In 2023, the UK reduced steel production by 6.5% y/y to 5.6 million tonnes, the second consecutive year of decline.