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Imports Account for 38.9% as Domestic Market Strengthens
Ukraine’s steel product consumption, including rolled and semi-finished products, increased by 41.4% year-over-year in the first quarter of 2025, reaching 863,100 tons, according to data from Ukrmetprom.
Imports and Market Structure
During January-March 2025, Ukraine imported 336,100 tons of steel products, marking a 25.5% year-on-year increase. Imports accounted for 38.9% of domestic rolled steel consumption, a slight decrease of 2.08 percentage points compared to the same period in 2024.
The import structure continued to favor flat products over long products, with flat products making up 79.8% of imports and long products accounting for 18.03%. This trend remained consistent with the previous year, when flat products constituted 83.15% of imports and long products represented 15.22%.
Domestic Production and Exports
In Q1 2025, Ukrainian steelmakers produced 1.43 million tons of rolled products, a 3.3% increase year-on-year. However, exports declined by 11.7% y/y, totaling 908,000 tons.
The domestic market absorbed 527,000 tons of rolled and semi-finished products, reflecting a 46.4% y/y increase. This rise in domestic shipments led to a shift in export proportions, with exports comprising 63.3% of total output, down from 74.1% in Q1 2024.
The export product mix saw significant changes:
- The share of flat products in total exports rose to 47.7% from 40.7% y/y.
- The share of long products increased to 19.4% from 14.3%.
- Semi-finished product exports declined to 32.9% from 45%.
Key Export and Import Markets
The primary destinations for Ukrainian rolled steel exports in Q1 2025 were:
- European Union – 77.9%
- Other European countries – 10.9%
- CIS countries – 6.7%
For steel imports, the top sources were:
- Other European countries – 59.4%
- European Union – 23.2%
- Asia – 16.9%
Historical Context and Industry Trends
In 2024, Ukraine’s steel product consumption declined by 6.26% y/y to 3.288 million tons. Total imports for the year reached 1.235 million tons (+10.2% y/y), while exports climbed to 4.17 million tons (+39.7% y/y). Domestic steel production grew by 15.8% y/y, totaling 6.22 million tons.
As Ukraine continues to strengthen its domestic steel industry, the rise in consumption and reduced dependency on imports signal a positive shift in market dynamics, potentially supporting the broader economic recovery and industrial growth.
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