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Ukraine cuts scrap metal procurement by 71%, raises its export by 3.5 times in two months – UAVtormet

KYIV. March 17 (Interfax-Ukraine) – Ferrous scrap metal enterprises in January-February of the current year reduced procurement of scrap metal by 70.7% compared to the same period last year – to 152,200 tonnes from 520,400 tonnes.

According to the Ukrainian Association of Secondary Metals (UAVtormet), the export of scrap metal for the specified period amounted to 24,800 tonnes compared to 7,100 tonnes in January-February 2022 (an increase of 3.5 times). At the same time, scrap imports amounted to 40 tonnes, while in the first two months of last year the figure was 100 tonnes.

The supply of scrap to the country’s steel enterprises in January-February 2023 decreased by 75.3% compared to January-February 2022 – to 120,200 tonnes from 488,500 tonnes.

As of March 1, 2023, the level of scrap metal stocks at Ukrainian steel enterprises was estimated at 15,000-20,000 tonnes.

UAVtormet predicts this year the decline in the procurement of ferrous scrap to 850,000-880,000 tonnes. In addition, it is predicted that in 2023 the supply of scrap to the country’s steel enterprises will be reduced to 720,000-750,000 tonnes. Export of scrap metal is expected to be 80,000-120,000 tonnes. Steel production in 2023 will amount to 3.6-3.7 million tonnes.