Ukraine: Market for Raw Steel And Steel Semi-Finished Products 2025

Market Size for Raw Steel And Steel Semi-Finished Products in Ukraine

In 2021, the Ukrainian market for raw steel and steel semi-finished products was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, saw a drastic downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Raw Steel And Steel Semi-Finished Products in Ukraine

In value terms, production of raw steel and steel semi-finished products totaled $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2018 with an increase of 23%. Over the period under review, production of hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Raw Steel And Steel Semi-Finished Products

Exports from Ukraine

In 2021, overseas shipments of raw steel and steel semi-finished products decreased by -9% to X tons for the first time since 2017, thus ending a three-year rising trend. Over the period under review, exports saw a noticeable curtailment. The pace of growth was the most pronounced in 2019 with an increase of 11% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, exports of raw steel and steel semi-finished products soared to $X in 2021. In general, exports saw a pronounced decline. Over the period under review, the exports of reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Italy (X tons), Turkey (X tons) and Bulgaria (X tons) were the main destinations of exports of raw steel and steel semi-finished products from Ukraine, together comprising 48% of total exports. These countries were followed by the Dominican Republic, Algeria, China, Costa Rica, Colombia, the UK, Kenya, Qatar, Thailand and Ethiopia, which together accounted for a further 34%.

From 2012 to 2021, the biggest increases were recorded for Colombia (with a CAGR of +574.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) remains the key foreign market for raw steel and steel semi-finished products exports from Ukraine, comprising 29% of total exports. The second position in the ranking was taken by Turkey ($X), with a 13% share of total exports. It was followed by the Dominican Republic, with a 7.8% share.

From 2012 to 2021, the average annual growth rate of value to Italy totaled +3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (-4.8% per year) and the Dominican Republic (+37.7% per year).

Export Prices by Country

The average export price for raw steel and steel semi-finished products stood at $X per ton in 2021, with an increase of 56% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2021, the countries with the highest prices were the UK ($X per ton) and Italy ($X per ton), while the average price for exports to Algeria ($X per ton) and Qatar ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+70.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Raw Steel And Steel Semi-Finished Products

Imports into Ukraine

In 2021, purchases abroad of raw steel and steel semi-finished products was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, faced a dramatic setback. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of raw steel and steel semi-finished products soared to $X in 2021. In general, imports, however, showed a deep reduction. The most prominent rate of growth was recorded in 2018 with an increase of 82% against the previous year. Over the period under review, imports of hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Russia (X tons) was the main raw steel and steel semi-finished products supplier to Ukraine, accounting for a 92% share of total imports. It was followed by India (X tons), with a 2.6% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from Russia amounted to -20.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-7.9% per year) and Italy (+18.0% per year).

In value terms, Russia ($X) constituted the largest supplier of raw steel and steel semi-finished products to Ukraine, comprising 70% of total imports. The second position in the ranking was held by Italy ($X), with a 10% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Russia amounted to -19.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+17.3% per year) and India (-8.5% per year).

Import Prices by Country

In 2021, the average import price for raw steel and steel semi-finished products amounted to $X per ton, reducing by -19.4% against the previous year. In general, import price indicated a noticeable increase from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for raw steel and steel semi-finished products increased by +56.5% against 2016 indices. The most prominent rate of growth was recorded in 2020 an increase of 35%. As a result, import price attained the peak level of $X per ton, and then dropped notably in the following year.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (+44.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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