US steel tariffs will hit Metinvest and Interpipe, with one losing $58M.

The decision by the Trump administration to restore the 25% tariff on imports of Ukrainian steel products will have negative consequences for the largest players in domestic metallurgy.

If the import tariff on Ukrainian steel is restored, the impact for the Metinvest group would be a decrease in steel billet production by 120,000 tons, iron ore production by 180,000 tons, railway transportation volumes by 400,000 tons, and port transshipment volumes by 200,000 tons from the resulting reduction in rebar exports to the US from its Bulgarian asset. This will lead to a loss of $58M in foreign exchange earnings and a decrease in tax revenue of ₴1B for Ukraine.

As for Interpipe, which exports pipes to the US, the additional duty will lead to a potential 36% reduction in production at the Interpipe Niko Tube plant (Nikopol).

The US recognizes that Ukrainian metal products pose no threat to the US metallurgical industry, as their share does not exceed 0.5% of total US steel imports.