In a significant development for Ukraine's steel industry, the country's flat steel exports witnessed a robust increase in May. According to the latest customs data, the total volume of flat steel delivered reached 144,100 tonnes, marking a 27.5% rise from April and a 23.7% increase compared to May of the previous year. This growth in flat steel exports is a positive indicator, especially considering the challenging economic conditions.
The financial aspect of the exports also saw an uptick, with revenues from flat steel exports climbing by 24.3% month-on-month and 5.2% year-on-year, totaling $93.63 million. The first five months of the year have been particularly strong for flat steel exports, which doubled compared to the same period last year, with revenues soaring by 96.8% to $421 million.
However, the news was not as favorable for long steel products, which experienced a downturn in the same period. The specifics of the decline in long products were not detailed in the available data. The contrasting fortunes of flat and long steel products highlight the dynamic nature of the steel export market and the varying demand for different types of steel products. The increase in flat steel exports is a testament to the resilience and adaptability of the Ukrainian steel industry in the face of ongoing challenges.
