Ukraine has increased its steel production by almost 400%, and despite the sanctions, the Russian Federation is still managing to produce significant volumes of this product.

Ukrainian metallurgical enterprises increased steel production by 390% in December 2023 compared to the same period in 2022, to 520,000 tons from 106,000 tons, but output decreased compared to the previous month by 4.8%, when 546,000 tons were smelted.

At the same time, Ukraine retained the 21^st place in the ranking of 71 countries that are global producers of this commodity, as compiled by the World Association of Steel Producers (Worldsteel).

As well, steel production in the Russian Federation increased to 75.8 million tons (+5.6%) in 2023, almost reaching the historical record established in 2021 (76 million tons). Despite economic sanctions, the Russian Federation ranks fifth among the world’s largest steel producers.