According to Ukrainian monitoring and consulting company Ukrpromzovnishexpertyza, in 2010 the production cost of steel in Ukraine increased by 40 percent or $137/mt year on year.
In particular, in 2010 in the Ukrainian domestic market the prices for iron ore increased by 96 percent, prices for coking coal went up by 77 percent and scrap prices rose by 55 percent.
In addition, as a result of the economic crisis, the domestic consumption of rolled steel products in 2010 decreased by about 45 percent, or by five million mt, to 6.2 million mt.
Meanwhile, Ukraine also saw a significant increase in the share of imports in domestic consumption of rolled steel products, which went up from 10 percent in 2004-2005 to 25 percent in 2010.