9,097.15 TL BIST 100 BIST 100
31.30 $ USD USD
€33.84 EUR EUR
45.26 TL Interest Interest
83.55 $ Fossil Oil Fossil Oil
23.12 $ Silver Silver
3.85 $ Copper Copper
113.89 $ Iron Ore Iron Ore
392.00 $ Ship Dismantling Ship Dismantling
2,100.60 TL Gold (gr) Gold (gr)

What is left of the Ukrainian metallurgy?

Ukraine has lost about 80% of its steel production over the past ten years. What is happening now in one of the key sectors of the country's economy?

What is left of the Ukrainian metallurgy?

In 2022, Ukraine smelted almost 6.3 million tons of steel - only a third of the result of 2021. Most of these volumes (58%) were produced in the 1st quarter. The production of rolled products decreased by 72% to 5.4 million tons.

Russia's attacks on railway infrastructure, and most importantly, the blockade of seaports, have become one of the most serious problem for the industry. About 65% of exports of metal products were made through ports.

In February, "Metinvest" began to import electricity for its needs, which made it possible to increase the capacity utilization of the "Kametstal" plant to 65% after the shutdown in November.

In pre-war times, the main buyer of Ukrainian raw materials was China. Last year, exports to China were carried out only in the first four months, after which Ukrainian suppliers, in the conditions of blocked ports, redirected volumes to the nearest markets - the Czech Republic, Poland, Slovakia.

The export of metal products for the year fell by 68% to 6.5 million tons, which led to a decrease in export revenues from its sale by 65%.

"Metinvest" supplies a factory in Bulgaria with a square billet for the production of long rolled products, and with slabs - a semi-finished product for the production of flat rolled products - factories in Italy and Great Britain.

The Ukrainian mining and metallurgical complex managed to survive, according to various estimates, at the level of 15-30% of capacities, primarily due to the support of Western partners, who provided their ports and lowered trade barriers.


No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Minister Hisarcıklıoğlu" We are the country which exports to the most countries in the world"

Wednesday, February 28, 2024

Steel production falls in China and iron ore demand weakens

Saturday, March 2, 2024

ASELSAN announced €82 million air defense system deal

Wednesday, February 28, 2024

New regulation for Canadian steel importers

Wednesday, February 28, 2024

Economic confidence decreased by 0.4% in February

Wednesday, February 28, 2024
Follow List
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.

There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now