Ukraine: Iron And Steel Market 2024

Iron And Steel Market Size in Ukraine

In 2021, the Ukrainian iron and steel market increased by 28% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, recorded a perceptible decrease. Iron and steel consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Iron And Steel Production in Ukraine

In value terms, iron and steel production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a perceptible slump. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

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Iron And Steel Exports

Exports from Ukraine

Iron and steel exports from Ukraine expanded to X tons in 2021, surging by 3.5% against the year before. Overall, total exports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +47.5% against 2015 indices. The most prominent rate of growth was recorded in 2018 with an increase of 28% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, iron and steel exports skyrocketed to $X in 2021. In general, exports enjoyed a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for iron and steel exports from Ukraine, with a 53% share of total exports. Moreover, iron and steel exports to the United States exceeded the volume sent to the second major destination, Italy (X tons), twofold. The third position in this ranking was held by Turkey (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to +21.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+3.4% per year) and Turkey (-9.8% per year).

In value terms, the United States ($X) remains the key foreign market for iron and steel exports from Ukraine, comprising 53% of total exports. The second position in the ranking was held by Italy ($X), with a 22% share of total exports. It was followed by Turkey, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +24.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+6.1% per year) and Turkey (-7.6% per year).

Export Prices by Country

In 2021, the average iron and steel export price amounted to $X per ton, rising by 65% against the previous year. Overall, export price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Peru (+16.5%), while the prices for the other major destinations experienced more modest paces of growth.

Iron And Steel Imports

Imports into Ukraine

After three years of decline, supplies from abroad of iron and steel increased by 14% to X tons in 2021. Over the period under review, imports, however, saw a significant contraction. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, iron and steel imports surged to $X in 2021. In general, imports, however, saw a precipitous curtailment. The pace of growth appeared the most rapid in 2017 when imports increased by 63% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), Russia (X tons) and Poland (X tons) were the main suppliers of iron and steel imports to Ukraine, with a combined 87% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +145.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of iron and steel to Ukraine, comprising 59% of total imports. The second position in the ranking was taken by Russia ($X), with a 17% share of total imports. It was followed by Poland, with an 8.8% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at +151.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (-43.6% per year) and Poland (+17.6% per year).

Import Prices by Country

In 2021, the average iron and steel import price amounted to $X per ton, rising by 9.6% against the previous year. Over the period under review, the import price posted a prominent increase. The growth pace was the most rapid in 2017 when the average import price increased by 45% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+2.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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