In December 2023, Ukraine exported 98.72 thousand tons of semi-finished products, up 40.7% month-on-month and 31.4% y/y.

Export revenue for the month increased by 42.7% m/m and 5.9% y/y. The average monthly export volume of semi-finished products for the year amounted to 100.3 thousand tons, compared to 158.3 thousand tons in 2022.

In 2023, Ukrainian steel companies reduced exports of semi-finished products by 36.7% compared to 2022, to 1.203 million tons.

Shipments of semi-finished products abroad decreased by 82.2%, or 5.57 million tons, compared to pre-war 2021. This is evidenced by data from the State Customs Service.

Revenue of domestic enterprises from the export of semi-finished products last year decreased by 48.9% compared to 2022 – to $608.52 million. Compared to 2021, the figure fell by 85.1%.

In 2023, Bulgaria was the largest consumer of Ukrainian semi-finished products, accounting for 36.7% in monetary terms. Poland accounted for 23.01% of export shipments and Italy for 9.6%.

Ukrainian steelmakers continued to operate in the face of limited logistics capabilities and unfavorable global market conditions.

The main Ukrainian steel companies, Metinvest Group’s enterprises (Kametstal and Zaporizhstal) and ArcelorMittal Kryvyi Rih, operated last year at capacity utilization rates of 65-75% and 20-30%, respectively.

In 2022, Bulgaria accounted for 26.5%, Poland – 14%, and Italy – 12.1%.

In 2022 export of semi-finished products from Ukraine decreased by 72% compared to 2021 – to 1.89 million tons.

In monetary terms, the export of semi-finished products fell by 70.9% y/y last year – to $1.19 billion. The main importers of Ukrainian semi-finished products in 2022 were Bulgaria (25.55%), Poland (13.97%) and Italy (12.13%).