Ukraine's steel output is expected to rise 21% on the year to 7.5 million tonnes in 2024, which marks a significant progress in its steel production, according to GMK Center.

The sea corridor launched at the end of 2023 has played a crucial role in revitalizing the steel sector in Ukraine, which extremely improved logistics along the country's western border, alleviating shipment burdens and providing new opportunities for steel exports.

In addition, the sea corridor has been instrumental in restoring iron ore exports to China. In January-November, Ukraine transported 13 million tonnes of iron ore to China, accounting for 43% of its total iron ore exports.

The second blast furnace operated by ArcelorMittal Kryvyi Rih in 2024 has led to a boost in exports, with semi-finished product exports rising 650,000 tonnes and rolled product exports increasing 500,000 tonnes during the first eleven months of 2024. This represents a 60% and 40% year-on-year growth, respectively.

Despite the progress in 2024, the forecast for 2025 remains cautious for the ongoing Ukraine-Russia Conflict, rising energy and logistics costs, growing power prices, and the anticipated increase in railway transportation tariffs, the media announced.