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Iron ore exports in monetary terms fell by 44.8% over 6 months

Ukrainian mining and metals companies in January-June 2022 reduced the export of ore and iron ore concentrates by 24.2% compared to the same period in 2021, to 17.01 million tons, acccording to the custom service statistics.

In monetary terms, iron ore exports decreased by 44.8% over six months, to $2.16 billion.

The biggest consumer of Ukrainian iron ore in the first half of the year was Slovakia – 18.68%. On the second place is China – 17.55%, and on the third – Poland, 14.65%.

As the war and ports blockade continue, China has shifted to the second place in the supply of iron ore from Ukraine, and by the end of the year, European countries may completely displace China from this list.

After the invasion of Russia into the territory of Ukraine, domestic metals companies reduced the export of products to a minimum due to the blockade of seaports. Steelmakers are looking for ways to ship their products via the railway infrastructure, but due to the influx of goods, Ukrzaliznytsia and border crossings cannot cope.

Despite this, in early May iron ore export through the Romanian port of Constanta has started. Freight operator Comvex loaded about 35 thousand tons of iron ore from Ukraine. Another 30 thousand tons of ore was shipped via Polish port Swinoujscie at the end of May. At that time, there were more than 50 thousand tons of Ukrainian iron ore in the warehouses of the port.

In addition, on July 11 Ministry of Infrastructure opened the passage of vessels along the Danube – Black Sea channel through the outfall of Bystre. This became possible after the liberation of Snake Island from Russian troops.

Earlier GMK Center reported, that in 2021 Ukraine reduced the export of iron ore by 4.2% compared to 2020, to 44.5 million tons. In monetary terms, the index increased by 62.8%, to $6.9 billion.

The biggest producers of iron ore raw materials in Ukraine are Ingulets GOK (Mining and Processing Plant), Kryvyi Rih Iron Ore Plant, Poltava GOK (Mining and Processing Plant), Northern GOK (Mining and Processing Plant), Central GOK (Mining and Processing Plant), Southern GOK (Mining and Processing Plant), ArcelorMittal Kryvyi Rih, Sukha Balka GOK (Mining and Processing Plant), Zaporizhzhia Iron Ore Plant.