In January-July 2024, the European Union experienced a 4% increase in imports of Ukrainian mining and metals products, totaling 10.21 million tons compared to the same period last year. According to calculations from GMK Center based on Eurostat data, steel raw materials made up the majority of these imports, reaching 9.37 million tons—a 2.9% increase from January-July 2023.
Within the category of steel raw materials, iron ore dominated imports at 8.35 million tons, reflecting a year-on-year increase of 3.6%. In contrast, imports of pig iron decreased by 4.9% to 133.32 thousand tons, while ferroalloys fell by 17.1% to 182.3 thousand tons. Scrap imports saw a positive trend with a 10.7% increase, totaling 115.68 thousand tons, and semi-finished products remained stable at 589.82 thousand tons, rising by 0.5%.
Ukrainian rolled steel products also saw significant growth, with imports to European consumers climbing by 18.5% to 740.59 thousand tons. Long products increased by 14.8%, reaching 257.42 thousand tons, while flat products surged by 20.5% to 483.17 thousand tons. Key items included hot-rolled flat products, which accounted for 382.56 thousand tons, a notable increase of 24.5%, along with wire rod and cold-rolled flat products showing growth as well.
The supply of Ukrainian steel pipes to the EU rose by 11.1% to 104.31 thousand tons during this period. Seamless ferrous pipes, tubes, and profiles led the imports at 65.15 thousand tons, a 13.2% increase, while other hollow ferrous pipes also saw growth of 8.1%, totaling 37.83 thousand tons. This indicates Ukraine’s significance as a supplier of metals and mining products to the European market, with potential for further growth if demand shifts away from Russian imports.
In the first half of 2024, the EU imported 4.09 million tons of metallurgical raw materials, including pig iron, direct reduced iron, and semi-finished products. Pig iron was the largest contributor at 965.38 thousand tons, followed closely by direct reduced iron at 887.65 thousand tons, and semi-finished products at 1.91 million tons.
Additionally, steel production within the EU saw a year-on-year increase of 1.5%, reaching 87.2 million tons in January-August 2024, with August alone showing a 2.2% increase to 9.1 million tons. This growth indicates a positive outlook for continued demand for Ukrainian products in the European market. Overall, Ukraine’s role as a key supplier is strengthening, with significant opportunities for further expansion.
