Exclusive Ukraine increased its pig iron exports by 62% y/y in January-September

The EU and the US accounted for the bulk of consumption of Ukrainian products

In January-September 2025, Ukrainian steel enterprises increased their exports of pig iron by 62.2% compared to the same period in 2024, to 1.4 million tons. This is evidenced by GMK Center calculations based on data from the State Customs Service.

During this period, 1.11 million tons of pig iron were shipped to the US, which is 92.6% more y/y, 137.64 thousand tons (+47.6% y/y) to Italy, 37.39 thousand tons (-20.4% y/y) to Poland, and to the Netherlands – 45.53 thousand tons.

In Q3, exports of commercial pig iron from Ukraine increased by 95.7% compared to the same period in 2024, and by 20.7% compared to the previous quarter – to 517.97 thousand tons.

At the end of September, shipments fell by 15.9% month-on-month and increased by 45% year-on-year to 165.49 thousand tons. The US market received 101.97 thousand tons of pig iron (-41.9% month-on-month; +36.5% year-on-year), while Poland received 5.24 thousand tons (-23.1% month-on-month; -40.3% year-on-year). Italy imported 21.9 thousand tons of products (+1,385 month-on-month; +7.6% year-on-year), and the Netherlands imported 35.35 thousand tons (+578% month-on-month; 0 thousand tons in September 2024).

Revenue from pig iron exports in September amounted to $60.19 million, which is 21.4% less than in August and 33.8% more y/y. Over nine months, the figure grew by 65.4% y/y to $548.12 million, while in Q3 it grew by 88.5% y/y and 16.9% q/q – to $198.71 million.

It should be noted that in 2024, Ukraine increased its exports of commercial pig iron by 3.4% compared to 2023, from 1.25 million tons to 1.29 million tons. At the same time, exports amounted to 1.32 million tons in 2022 and 3.23 million tons in 2021. Ukrainian metallurgists’ export revenue for the year increased by 6.1% to $500.34 million.

During the year, export destinations diversified. In particular, the United States became the main consumer of Ukrainian pig iron, mainly due to the restoration of maritime logistics for Ukrainian mining and metallurgical cargoes. At the same time, exports to the EU declined due to market stagnation. Thus, 940.21 thousand tons (+514% y/y) were shipped to the US, 102.49 thousand tons (+617%) to Turkey, 93.28 thousand tons (+61.9%) to Italy, and 63.05 thousand tons (-90%) to Poland. In 2023, Poland consumed more than half of Ukraine’s pig iron exports (633.34 thousand tons), while in 2024, only 5%.