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What remains of Ukrainian metallurgy?

In the first half of 2023, Ukrainian metallurgists managed to increase the volume of steel smelting. Despite the short-term shutdown of some enterprises and new challenges, monthly steel production volumes compared to 2022 increased by 30-40%, but remain almost three times lower than similar indicators of the pre-war years.

What remains of Ukrainian metallurgy?

Significant changes compared to previous years are noted in export of ferrous metals from Ukraine. In the first half of 2023, only 2.4 million tons of metal products were exported.

In the structure of exports, the share of raw materials - pig iron and scrap increased significantly, up to 48.3%. The share of semi-finished products was 22.7%, rolled steel – 29%. The main sales market for Ukrainian metal was the EU countries, which accounted for about 87% of all export supplies of ferrous metals from Ukraine.

It is expected that with steady work of metallurgical enterprises, the volume of steel production in 2023 will amount to 5.5-5.6 million tons. Maintaining production volumes at this level can be considered a positive development of the situation for the industry.

The export of Ukrainian ferrous metals will continue to depend on the logistics capabilities and conditions of foreign markets. At the same time, the share of exports of raw materials - cast iron, ferroalloys and scrap will grow.

No significant changes should be expected in the geographical structure of exports: the EU and other European countries will remain the main sales market. By the end of 2023, the export of ferrous metals may amount to 4.8-5.2 million tons worth 2.8-3 billion dollars.


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