Ukraine increased exports of ferroalloys by 30.1% m/m in February

In February 2025, Ukrainian ferroalloy enterprises increased their exports by 30.1% compared to the previous month, to 10.84 thousand tons. In February 2024, export volumes were at 0.3 kt, which is the result of prolonged downtime at key enterprises in the industry. This is evidenced by GMK Center’s calculations based on the State Customs Service data.

February shipments reached their highest level since August 2024. The key export destinations are Algeria – 2.71 kt (-27.3% m/m), Poland – 1.1 kt (-67% m/m), and Italy – 3.93 kt (in January 2025, Italy did not import ferroalloys from Ukraine).

In January-February of this year, domestic ferroalloy enterprises exported 19.17 thousand tons, while in the first two months of 2024, these volumes did not exceed 0.6 thousand tons. During the period, 6.44 thousand tons of ferroalloys were exported to Algeria, 4.42 thousand tons to Poland, and 3.93 thousand tons to Italy. Algeria is a new market for Ukrainian suppliers, as no products were shipped to this country in 2024.

Revenue from exports of ferroalloys in January-February amounted to $19.77 million compared to $1.81 million in the same period in 2024. In February, the figure amounted to $11.12 million, compared to $0.9 million a year earlier, and $8.65 million in the previous month.

In 2024, Ukrainian ferroalloy plants reduced production by 49.4% y/y – to 108.2 thousand tons. The industry resumed operations in April-May after a forced shutdown in the fall of 2023.

Thus, exports of ferroalloys for the year decreased by 77.5% compared to 2023 – from 344.17 thousand tons to 77.32 thousand tons. In 2022, this figure was 349.56 thousand tons, and in 2021 – 668.54 thousand tons.

Last year, the key consumers of Ukrainian-made ferroalloy products were Poland – 20.94 thousand tons (189.34 thousand tons in 2023), Turkey – 45.69 thousand tons (45.69 thousand tons), and Italy – 16.96 thousand tons (18.74 thousand tons).

According to Sergiy Kudryavtsev, Executive Director of UkrFa Association, the key problem for the industry in 2025 is the high cost of electricity and the stability of its supply. Overall, the mood is largely negative with an element of uncertainty.