In March 2024, Ukraine’s exports of semi-finished steel products to the EU increased by 10.7% M-o-M and by 78% Y-o-Y, to 110.8 thousand tons.

The value of these exports increased by 12.7% month-on-month and 74% year-on-year to €58.94 million.

In Q1 of 2024, Ukraine exported 291.6 thousand tons of semi-finished steel products to the EU, an increase of 38.2% compared to the same period last year, according to Eurostat data.

The value of exports in this period increased by 32.4% compared to the period from January to March 2023, to 151.71 million euros.

The main destinations of Ukraine’s export of semi-finished steel products to EU countries in this period were:
Bulgaria – 108.8 thousand tons (+103.6% y/y);
Poland – 86.99 thousand tons (-14.5% y/y);
Italy – 48.1 thousand tons (+167.4% y/y).

Overall, in January-March 2024, EU imports of semi-finished steel products increased by 7.5% compared to the same period in 2023 to 1.81 million tons as Ukraine’s exports represented 16.1% of total EU imports of semi-finished steel products in the first quarter of 2024.

The largest importers in the European Union were:
Italy – 566.6 thousand tons (+6.3% y/y)
Belgium – 356.4 thousand tons (+0.9% y/y)

In 2023, EU imports of semi-finished steel products from Ukraine fell by 2.8% compared to 2022, reaching 1.03 million tons.

The value of imports decreased by 23% year-on-year to reach $532 million.The largest importers were
Poland – 252.3 thousand tons (+29.3% y/y)
Bulgaria – 513.5 thousand tons (+23.4% y/y)
Italy – 112 thousand tons (-64.6% y/y).