In January-October 2025, Ukrainian steel enterprises increased the production of commercial rolled steel products by 2.2% compared to the same period in 2024, to 5.38 million tons. 

Pig iron production increased by 8.4% y/y – to 6.48 million tons, while steel smelting fell by 4.9% y/y – to 6.17 million tons.

In October of this year, rolled steel production fell by 9.1% compared to the previous month, but increased by 20.7% compared to October 2024, to 533,900 tons. Pig iron production increased by 10.8% y/y and 1.3% m/m – to 692.1 thousand tons, while steel production increased by 7.5% y/y and 6.2% m/m – to 648.8 thousand tons.

It should be noted that in Q3, the country’s steelmakers produced 1.77 million tons of rolled products (+5.4% y-o-y; +8.4% q-o-q), 2.12 million tons of pig iron (+12.4% y-o-y; +7.9% q-o-q), and 1.84 million tons of steel (-8.4% y-o-y; -5.6% q-o-q).

In 2024, Ukraine’s steel industry increased rolled steel production by 15.8% compared to 2023, 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 – by 21.6% y/y, from 6.23 million tons to 7.58 million tons.

The industry’s results in 2024 turned out to be much better than expected. At the same time, 2025 will be difficult as the global steel market is going through a crisis period. Steel exports from Ukraine are likely to decline, the price situation will worsen, and import restrictions will tighten around the world.

Source: https://gmk.center