According to the Ukrainian steel producers union, the country’s steel production has seen a significant increase in the first five months of 2024, rising by 31.2% compared to the same period a year earlier.
The union reported that Ukraine produced 3.1 million metric tons of steel during this period, up from 2.4 million tons in the first five months of 2023. Rolled steel output increased by 29.5% to 2.6 million tons, while pig iron production rose by 20.8% to 2.8 million tons.
The steel industry in Ukraine has been heavily impacted since Russia’s invasion on February 24, 2022, with the destruction of leading steel plants in the ongoing fighting. Prior to the invasion, Ukraine was a major steel producer and exporter.
In 2022, steel output in the country fell by 70.7% to 6.3 million tons. In 2023, Ukraine produced 6 million tons of steel, a slight increase from the previous year.
The recent 31.2% jump in steel production during the first five months of 2024 suggests a recovery in the industry, despite the ongoing challenges posed by the conflict. The increase in both rolled steel and pig iron output indicates that Ukrainian steel producers are working to rebuild and expand their operations.
The data provided by the Ukrainian steel producers union highlights the resilience of the country’s industrial sector amidst the ongoing war, and the potential for further growth and recovery in the coming years.