Ukraine’s steel production increased by 91% year-on-year in January

Since the large-scale missile and drone attacks on Ukraine's energy infrastructure last winter, the country's steel industry is gradually recovering, and there were no large-scale power outages in January this year. In addition, Ukraine will increase its exports of goods through the establishment of a new maritime corridor starting from August 2023, mainly exporting grains and other agricultural products, as well as metals and iron ore. The First Deputy Prime Minister and Minister of Infrastructure of Ukraine stated that Ukraine has exported approximately 22 million tons of goods by sea in the past six months, and this number will not stop. The throughput capacity of the ports themselves and the modernization of related infrastructure will increase the cargo volume by at least a quarter SGLH440 steel.

The Ukrainian Metal Industry Association pointed out that Ukraine's crude steel production in January increased by 91.6% year-on-year, reaching 544000 tons. The association cited preliminary data stating that pig iron production increased by 41.5% year-on-year to 555000 tons, and steel production surged by 75.9% to 453000 tons.

Due to the deterioration of the geopolitical situation in the Russia Ukraine region in 2022, large-scale conflicts have occurred in the steel and coal mining areas of eastern Ukraine, disrupting Ukraine's logistics chain and seriously affecting the two major steel plants, Azovstal and Illich Steel, which belong to the largest steel and mining group Metinvest in the country. The Ukrainian steel industry has suffered a significant impact SGLH440 steel.

Zaporizhstal, a subsidiary of Metinvest, is currently the second largest steel plant in Ukraine, with a steel production of 235500 tons in January, a year-on-year increase of 162.2%. The production of pig iron increased by 56.8% to 261000 tons, and the production of rolled materials increased by 162.9% to 196000 tons.

Ukraine's steel production in 2023 decreased by 0.6% year-on-year to 6.228 million tons, pig iron production decreased by 6.1% year-on-year to 6.003 million tons, and steel production increased by 0.4% year-on-year to 5.372 million tons.

According to the Ukrainian General Administration of Customs, the export revenue of black metals from Ukrainian steel companies in 2023 decreased by 41.6% year-on-year to 2.647 billion US dollars, accounting for 7.3% of the country's total export revenue of goods, compared to 10.3% in 2022 SGLH440 steel.