EU reduced semi-finished products import from Ukraine by 47.5% y/y in January-April

In January-April 2023, the European Union reduced the import of semi-finished products from Ukraine by 47.5% compared to the same period in 2022 – to 310.92 thousand tons. The import of products in monetary terms decreased by 54% y/y – to €171.2 million. This is evidenced by Eurostat’s data.

The largest importers of semi-finished products of Ukrainian production among the EU countries in January-May 2023 were:

• Poland – 137.82 thousand tons (+224.1% compared to January-April 2022);
• Bulgaria – 87.23 thousand tons (-48.6% y/y);
• Denmark – 27.83 thousand tons (did not import products in January-April 2022);
• Italy – 29.94 thousand tons (-90.5% y/y).

In April 2023, EU countries increased imports of semi-finished products from Ukraine by 64.9% compared to March – up to 100.97 thousand tons. Compared to April 2022, deliveries of Ukrainian products to European consumers increased by 19.2%. The costs of European steelmakers on imports amounted to €57.15 million, which is 71.7% more compared to March and 0.4% to April 2022.

In April 2023, Poland consumed 36.1 thousand tons of Ukrainian semi-finished products, which is 83% more compared to March and 59.1% y/y. In April, Bulgaria increased its import of semi-finished products from Ukraine by 91.1% y/y, but decreased by 48.6% y/y – to 33.83 thousand tons. In March, Denmark imported 10.1 thousand tons of products, which is 46.5% more m/m, while in April 2022, semi-finished products of Ukrainian production were not delivered to the country. Italy consumed 12.94 thousand products from Ukraine in a month (+84.8% m/m; +287.2% y/y).

As GMK Center reported earlier, in January-April 2023, Ukrainian steel companies exported 296.13 thousand tons of semi-finished products for $158.3 million. Revenue from the export of slabs and billets decreased by 77.6% compared to the same period in 2022, and product deliveries decreased by 74.3%.

In April, the export of products increased by 17% compared to the previous month, but fell by 5.6% by April 2022 – to 101.7 thousand tons. The income of producers from exports for the month increased by 24% m/m.and decreased by 26.3% y/y – to $56.01 million.

The low volumes of production of Ukrainian steelmakers are connected with logistical problems, the unfavorable situation of the world market, as well as with the destruction due to hostilities of the two largest steel enterprises of Ukraine – Azovstal and Ilyich Iron and Steel Works in Mariupol.