Ukrainian steel imports shrink by 63.5 percent in Jan-Oct

According to the data released by metal trading enterprise Ukrainian Mining and Metallurgical Company (UGMK), during the first ten months of 2009 Ukraine's imports of steel products registered a decline of 63.5 percent year on year to about 591,000 mt. In October this year, the country's steel product imports amounted to 62,100 mt - down by 54.8 percent year on year and showing a decline of seven percent month on month.

UGMK considers that the seasonal drop of demand from steel consuming industries and the deterioration of the country's economic and financial situation are the main factors causing the decline of imports to Ukraine.

Accordingly, in January-October, the biggest decreases year on year in imports in the Ukrainian steel market were registered by shaped sections; imports of channels dropped by 87 percent, imports of angles fell by 85.1 percent, while imports of beam went down by 72.6 percent. The next biggest decreases in imports were recorded by flat steel products; HRC imports dropped by 86.4 percent, CRC imports fell by 63.7 percent, and galvanized steel imports went down by 48 percent. All comparisons are with the same period last year.

Meanwhile, during the period in question, a positive tendency in Ukraine's steel product imports was registered by tubular billets, imports of which increased by 0.8 percent year on year.

In January-October 2009, imports of steel products in Ukraine were as follows:  

In the January-October period, Ukraine's main importer of steel was the pipe sector, which increased its share of overall steel imports into the country to 42.6 percent, from 29.8 percent in the same period of the previous year; meanwhile, the local metal trade sector has continued to see a decrease in its share of steel imports, from 31.3 percent to 19.6 percent year on year, according to the UGMK report.