In January-July 2025, Ukrainian steel enterprises reduced production of commercial rolled steel products by 2.8% compared to the same period in 2024, to 3.62 million tons. This is evidenced by the data of Ukrmetprom.

Pig iron production for the period increased by 6.7% y/y – to 4.36 million tons, while steel production fell by 7% y/y – to 4.27 million tons.

In July of this year, rolled products production fell by 2% compared to the previous month, and by 6.2% compared to July 2024, to 552 thousand tons. Pig iron production for the month increased by 11.4% y/y and 4.6% m/m – to 692.1 thousand tons, while steel production fell by 18.1% y/y and 6.6% m/m – to 580.5 thousand tons, the lowest since March.

As GMK Center reported earlier, in 2024, Ukraine’s steel industry increased rolled steel production by 15.8% year-on-year, from 5.37 million tons to 6.22 million tons. Last year, pig iron production increased by 18.1% y/y, from 6 million tons to 7.09 million tons, and steel production increased by 21.6% y/y, from 6.23 million tons to 7.58 million tons.

The industry’s performance in 2024 was much better than expected. At the same time, GMK Center analysts predict that 2025 will be a difficult year as the global steel market is going through a crisis. Ukraine’s steel exports are likely to decline, the price situation will deteriorate, and import restrictions will tighten around the world.

Source: https://gmk.center/