According to the data released by metal trading enterprise Ukrainian Mining and Metallurgical Company (UGMK), during the first eight months of 2009 Ukraine's imports of steel products registered a decline of 63.3 percent year on year to 462,000 mt, with its August imports decreasing by 13.5 percent month on month to 12,200 mt.
UGMK considers that the main factors causing the decline of imports to Ukraine remain the deterioration of the country's economic and financial situation, the instability of the exchange rate with the US dollar, and also the lack of political stability.
Accordingly, during the period in question, the biggest decreases year on year in imports in the Ukrainian steel market were still registered by flat steel products; HRC imports dropped by 87.5 percent, CRC imports fell by 67.8 percent, and galvanized steel imports went down by 51.8 percent. The next biggest decreases in imports were recorded by structural shapes; imports of angles went down by 85.1 percent, imports of channels decreased by 84.3 percent, and beam imports dropped by 72.1 percent, all compared to the same period last year.
In January-August 2009, imports of steel products in Ukraine were as follows:
Product | Jan-Aug 2008 (mt) | Jan-Aug 2009 (mt) | Change (mt) | Change % |
67,864 | 44,925 | -22,939 | -33.8 | |
Beam | 19,754 | 5,513 | -14,241 | -72.1 |
5,617 | 3,633 | -1,984 | -35.3 | |
Round | 60,708 | 42,920 | -17,789 | -29.3 |
580,715 | 72,657 | -508,058 | -87.5 | |
Galvanized steel | 128,454 | 61,872 | -66,581 | -51.8 |
147,471 | 47,431 | -100,041 | -67.8 | |
Angle | 16,527 | 2,470 | -14,057 | -85.1 |
Channel | 12,270 | 1,931 | -10,339 | -84.3 |
Pipes | 50,744 | 26,138 | -24,606 | -48.5 |
Other | 179,869 | 152,528 | -27,341 | -15.2 |
Total | 1,269,993 | 462,016 | -807,976 | -63.6 |
In the January-August period, Ukraine's main importer of steel was the pipe sector, which increased its share of overall steel imports into the country to 42.1 percent, from 28.9 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 33.5 percent to 22.2 percent year on year, according to the UGMK report.