The Ukrainian steel market during Q1 2025 showed mixed trends: production of main products mainly increased, domestic consumption and imports also recovered, while exports of products slowed down.According to the results of January-March, metallurgical enterprises increased pig iron smelting by 7.2% compared to the same period in 2024 - to 1.7 million tons. Steel output increased by 2.7% y/y, to 1.73 million tons, and rolled metal production - by 3.4% y/y, to 1.43 million tons. At the same time, compared to the previous quarter, pig iron production decreased by 1.8%, and steel and rolled metal increased by 2.5%, respectively.There is a slowdown in production indicators, as the average quarterly output of pig iron last year was 1.77 million tons, steel - 1.89 million tons, and rolled products - 1.55 million tons. The most successful for the industry in 2024 were the II and III quarters, when the smelting of pig iron and steel was close to or exceeded 2 million tons, and finished products - 1.7 million tons.
Among the main influencing factors: US trade policy - new tariffs and anti-dumping investigations limit the access of Ukrainian products to the American market, also affecting the price situation in the EU and Asia; logistical difficulties, in particular, increased transportation tariffs; high competition from Asian manufacturers, etc.Domestic consumption of steel (semi-finished products, rolled steel) during the first quarter of 2025 increased by 40.5% compared to the same period last year, and by 0.5% compared to the previous quarter – to 849.92 thousand tons. At the same time, 317.9 thousand tons (+35.9% y/y; +10% q/q) accounted for imports. In particular, 49.7 thousand tons of long rolled steel were imported (+92.7% y/y), and 268.25 thousand tons of flat steel (+28.8% y/y). Despite the increase in supplies, the share of the import component decreased by 1.28 pp. compared to the first quarter of 2024.Exports of metal products during the period decreased by 11.2% y/y. and grew by 7.1% q/q to 903.53 thousand tons. The decrease in the indicator was mainly due to the slowdown in export demand for semi-finished products – by 34.8% y/y, to 294.2 thousand tons. Shipments of long rolled products during the period increased by 19.6% y/y, to 176.25 thousand tons, and flat products – by 3.3% y/y, to 433.1 thousand tons.Among the key types of products supplied to foreign markets: hot-rolled flat products (UKTZED – 7208) – 357.83 thousand tons, semi-finished products (UKTZED – 7207) – 294.2 thousand tons, cold-rolled flat products (UKTZED – 7209) – 58.45 thousand tons. tons, fittings (UKTZED – 7214) – 36.69 thousand tons.
Ukrainian consumers imported the most: coated flat rolled products (UKTZED – 7210) – 110.79 thousand tons, hot-rolled flat rolled products – 98.97 thousand tons, cold-rolled flat rolled products – 32.87 thousand tons, angles (UKTZED – 7216) – 26.88 thousand tons.Exports of pipes for the first quarter reached 136.23 thousand tons (+12.8% y/y), and imports – 20.89 thousand tons (+67.3% y/y).The main export markets for Ukrainian rolled metal are the countries of the European Union (77.9%), other Europe (10.9%) and the CIS (6.7%). Among metallurgical importers, the first place is occupied by other European countries (59.4%), the second by the EU (23.2%), and the third by Asian countries (16.9%).
Source: https://gmk.center/ua/infographic/stalevij-rinok-ukraini-u-i-kvartali-spovilnennya-virobnictva-ta-torgivli/
