June 2024 marked a notable period for Ukrainian steelmakers as they successfully produced a substantial 571 thousand tons of rolled products. This achievement signifies a resilient performance amidst the challenges faced by the industry, including energy system issues, workforce shortages due to mobilization, and logistical hurdles. The production figures also reflect the industry’s response to the global steel market’s unfavorable conditions.
The reported output represents a continuation of the positive trend observed in the previous month, where Ukrainian steel enterprises produced 595 thousand tons of rolled steel in May. The steady production of steel, which amounted to 738 thousand tons, and pig iron at 653.1 thousand tons, underscores the sector’s recovery and growth trajectory.
Despite the obstacles, the Ukrainian steel industry has shown remarkable adaptability, maintaining and even surpassing the production levels of the pre-war period in 2022. The industry’s resilience is further demonstrated by the year-to-date figures, with a 29.5% increase in rolled product production compared to the same period in 2023, reaching 2.57 million tons.
The sustained production growth rates, albeit slowing, highlight the domestic enterprises’ commitment to overcoming the current challenges. The industry’s performance is a testament to its strength and the strategic importance of steelmaking in Ukraine’s economy.
