The EU reduced imports of iron ore from Ukraine by 9.7% y/y in January-April

Руда

In January-April 2023, the European Union reduced the import of iron ore and concentrate from Ukraine by 9.7% compared to the same period in 2022 – to 4.93 million tons. The import of raw materials in monetary terms decreased by 18.3% y/y – to €574 million. This is evidenced by Eurostat’s data.

The largest importers of Ukrainian iron ore among the EU countries in January-April 2023 were:

Czech Republic – 1.53 million tons (+11.3% compared to January-April 2022);
Poland – 1.36 million tons (-5.2% y/y);
Slovakia – 1.83 million tons (+4.2% y/y);
Hungary – 85.9 thousand tons (-69.7% y/y).

In April 2023, EU countries reduced iron ore imports from Ukraine by 16.4% compared to March – to 1.27 million tons. At the same time, compared to April 2022, deliveries of Ukrainian raw materials to European steelmakers decreased by 10.4%. Import costs of European steelmakers amounted to €161.28 million, which is 22.7% less than in April 2022, and 9% less than in March 2023.

In April 2023, the Czech Republic consumed 358.1 thousand tons of Ukrainian iron ore, which is 27.7% more compared to April 2022 and 26.2% less month-on-month. In April, Poland reduced iron ore imports from Ukraine by 37.6% m/m and 41% y/y – to 273 thousand tons. Deliveries to Slovakia amounted to 511.15 thousand tons, which is 7.2% less m/m and 15.6% y/y.

As GMK Center reported earlier, Ukrainian steel industry in January-April 2023 shipped for export 5.32 million tons of iron ore, which is 59% less compared to the same period in 2022. Revenue from the export of iron ore in 4 months decreased by 62.5% – to $591.5 million. Thus, the main volume of iron ore exports from Ukraine is directed to the European Union.

Ukrainian Railways for April 2023 transported for export 1.66 million t of iron ore, which is 4.4% less compared to the previous month.

The major iron ore producers in Ukraine include: Ingulets GOK, Kryvyi Rih Iron Ore Plant, Poltava Mining, Northern GOK, Central GOK, Southern GOK, ArcelorMittal Kryvyi Rih, Sukha Balka GOK and Zaporizhzhia Iron Ore Plant.