Ukraine: Hot-Rolled Steel Products Market 2024

Hot-Rolled Steel Products Market Size in Ukraine

The Ukrainian hot-rolled steel products market dropped dramatically to $X in 2021, declining by -56.6% against the previous year. Overall, consumption saw a abrupt shrinkage. Hot-rolled steel products consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Hot-Rolled Steel Products Production in Ukraine

In value terms, hot-rolled steel products production expanded rapidly to $X in 2021 estimated in export price. In general, production recorded a significant curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 41% against the previous year. Hot-rolled steel products production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Hot-Rolled Steel Products Exports

Exports from Ukraine

In 2021, approx. X tons of flat-rolled products of iron or steel (not further worked than hot-rolled) were exported from Ukraine; with an increase of 29% against the previous year. In general, exports, however, recorded a relatively flat trend pattern. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, hot-rolled steel products exports soared to $X in 2021. Over the period under review, exports saw a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey (X tons), Russia (X tons) and Poland (X tons) were the main destinations of hot-rolled steel products exports from Ukraine, together comprising 50% of total exports. These countries were followed by North Macedonia, the United Arab Emirates, Egypt, Israel, Spain, Belarus, Bulgaria, Italy, Romania and Nigeria, which together accounted for a further 25%.

From 2012 to 2021, the biggest increases were recorded for North Macedonia (with a CAGR of +61.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Russia ($X) and Poland ($X) were the largest markets for hot-rolled steel products exported from Ukraine worldwide, together accounting for 48% of total exports. The United Arab Emirates, Bulgaria, Egypt, Belarus, North Macedonia, Israel, Italy, Spain, Romania and Nigeria lagged somewhat behind, together accounting for a further 26%.

In terms of the main countries of destination, North Macedonia, with a CAGR of +63.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average hot-rolled steel products export price stood at $X per ton in 2021, growing by 64% against the previous year. Over the period under review, export price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine years. 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.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Bulgaria ($X per ton) and Belarus ($X per ton), while the average price for exports to North Macedonia ($X per ton) and Nigeria ($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 Bulgaria (+5.2%), while the prices for the other major destinations experienced more modest paces of growth.

Hot-Rolled Steel Products Imports

Imports into Ukraine

In 2021, the amount of flat-rolled products of iron or steel (not further worked than hot-rolled) imported into Ukraine dropped slightly to X tons, with a decrease of -4.9% against 2020 figures. In general, imports faced a deep reduction. The pace of growth was the most pronounced in 2016 with an increase of 49%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, hot-rolled steel products imports soared to $X in 2021. Overall, imports saw a abrupt curtailment. The pace of growth was the most pronounced in 2013 with an increase of 88% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Russia (X tons) constituted the largest hot-rolled steel products supplier to Ukraine, accounting for a 65% share of total imports. Moreover, hot-rolled steel products imports from Russia exceeded the figures recorded by the second-largest supplier, Turkey (X tons), tenfold. China (X tons) ranked third in terms of total imports with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Russia amounted to -16.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+28.3% per year) and China (+6.4% per year).

In value terms, Russia ($X) constituted the largest supplier of flat-rolled products of iron or steel (not further worked than hot-rolled) to Ukraine, comprising 48% of total imports. The second position in the ranking was held by China ($X), with an 11% share of total imports. It was followed by Turkey, with a 6.4% share.

From 2012 to 2021, the average annual growth rate of value from Russia totaled -15.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+12.6% per year) and Turkey (+28.7% per year).

Import Prices by Country

In 2021, the average hot-rolled steel products import price amounted to $X per ton, increasing by 45% against the previous year. In general, import price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hot-rolled steel products import price increased by +64.6% against 2019 indices. Over the period under review, average import prices attained the maximum at $X per ton in 2013; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+24.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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