According to the data issued by the Ukrainian Association of Metal Traders, in the first eleven months of 2008 the country decreased its steel consumption by 13.4 percent year on year to 7.555 million metric tons. Meanwhile, during the period in question, imports of steel products to Ukraine increased by 15.8 percent year on year to 1.757 million mt.
Accordingly, during January-November 2008, the Ukrainian pipe making companies reduced purchases of domestic and imported steel products by 15.1 percent to 2.043 million mt, the construction companies cut purchases by 27.4 percent to 227,600 mt, railway producers - by 78.2 percent to 68,893 mt, and hardware producers - by 20.5 percent to 542,537 mt, all compared with the same period of the previous year. Furthermore, Ukrainian steel sellers, including the smaller ones, reduced their purchases by 5.6 percent to 5.507 million mt, mining and metallurgical companies cut their purchases by 6.2 percent to 660,419 mt, while machine building companies decreased purchases by eight percent to 1.385 million mt, all compared with the data for January-November 2007.