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Us Pig Iron Imports From Ukraine Fell by 1.3% in Prior Month

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US steelmakers lowered their pig iron imports from Ukraine to 30.05 thousand tonnes in October 2023, a 1.3% decrease from the previous month. The supply of raw materials decreased by 20.5% from October 2022 onwards. UN Comtrade data corroborate this.

US steelmakers used 871.31 thousand tonnes of pig iron produced in Ukraine between January and September of 2023. This represents a 98.6% increase over the same period in 2022. Simultaneously, pig iron imports into the US from Ukraine fell by 39% from 2021, the year before the conflict.

Generally speaking, Ukrainian pig iron exports to the US have increased significantly since the start of 2023; in January and February alone. Shipments totaled 116.9 thousand tonnes and 156 thousand tonnes, respectively.

In May and July, the numbers were higher than 100,000 tonnes (123.95 and 119.6 thousand tonnes, respectively).

Shipments dropped precipitously in September and October to their lowest point since August 2022, when 23.4 kt of pig iron were imported.

The monthly average of shipments in 2022 was 45.85 thousand tonnes. This amount was 140.2 thousand tonnes in 2021, and it was 87.13 thousand tonnes in 2023.

1.11 million tonnes of pig iron were exported by Ukraine between January and October of 2023. A 3.2% decrease from the same period in 2022. The indicator dropped to 52.99 thousand tonnes in October, a decrease of 26.7% year over year and 57.9% relative to the previous month.

Therefore, the primary market for Ukrainian pig iron is the United States. Of total exports, 78.5% are shipped to American consumers, and the EU receives 21.5% of them.

As previously reported by Shree Metal Prices, Ukraine’s production of pig iron rose to 512,000 tonnes in October 2023, a 5.3% increase from September of the same year. Steel producers produced 4.91 million tonnes of pig iron in 10 months, a 15.5% decrease from the previous year.

SHREE METAL PRICES