Ukrainian metallurgical enterprises sharply cut exports of steel semi-finished products in August 2026. RBC-Ukraine reports this, citing a publication by the GMK Center analytical center based on data from the State Customs Service. According to the specialists' calculations, shipments of steel semi-finished products in August fell by 76% compared to July and by 71% year-on-year — to 26 thousand tonnes. This decline is being recorded against the backdrop of the ongoing blockade of the Black Sea ports, which restricts the main logistics corridor for exporting metal products.

Sharp Drop in Shipments

The reduction in steel semi-finished product exports in August 2026 was one of the sharpest over the past year. In month-on-month terms, shipments fell by 76%, and year-on-year by 71%, dropping to 26 thousand tonnes. GMK Center analysts emphasize that the dynamics are not seasonal but structural in nature: they are directly linked to the inability to fully use the Black Sea ports as export gateways for metallurgical products.

Bulgarian Direction and Export Revenue

Shipments to Bulgaria dropped most dramatically. In August, Ukraine exported just 3 thousand tonnes of semi-finished products there — 31 times less than in July and seven times less than in August 2025. In monetary terms, export revenue from steel semi-finished products fell by 73% month-on-month and by 63% year-on-year — to $5.3 million. The simultaneous contraction of both volumes and revenue indicates that the industry is losing not only sales markets but also price stability on the remaining routes.

Pig Iron and the Black Sea Port Blockade

In parallel with the drop in semi-finished product exports, Ukraine completely halted exports of merchant pig iron in August: shipments fell to zero. The cause was the blockade of the Black Sea ports, through which a significant share of metallurgical products had traditionally been shipped. According to specialist estimates, if the ports are not unblocked in the near future, the industry's losses will be far heavier, and the current drop in semi-finished product exports will become only the first phase of a deeper crisis.

Scale of Potential Losses

The Ukrainian National Committee of the International Chamber of Commerce (ICC) assesses the aggregate risks of the continued port blockade across the entire economy. According to these estimates, Ukraine could lose around $10 billion in GDP, $17 billion in export revenue, and a further $8.5 billion in tax revenues. In addition, more than 30 million tonnes of agricultural products will not reach global markets. It is important to emphasize that these figures are an expert forecast by the committee, not a recorded fact; however, they set the order of magnitude of the potential damage to the budget and industry.

What Comes Next

The situation requires prompt decisions: the industry is expected to provide assessments of how much steel production has declined, and the government is expected to take concrete measures to save metallurgy and diversify logistics. According to RBC-Ukraine, the article "Metallurgists Under Attack. How the Government Can Save a Key Industry of the Economy" examines the necessary steps and the state's role in stabilizing the situation. As long as the Black Sea ports remain blocked, the metallurgical sector remains one of the most vulnerable points in the Ukrainian economy.