Ukraine’s iron ore exports shrank by 10% in March

Iron ore exports declined by 4.8% in January–March

In March 2021, Ukrainian mining & metals companies reduced exports of iron ore and iron ore concentrates by 9.7% to 3.6 million tons y-o-y. In monetary terms, however, iron ore exports rose by 98.8% to $325.4 million, according to the customs statistics.

In 3M 2021, Ukraine exported 10.7 million tons of iron ore, 4.8% down from the same period of 2020. In January–March, Ukraine’s mining companies increased revenues from iron ore exports by 95.1% to $1.72 billion y-o-y.

China remains the main consumer of Ukrainian iron ore. Its share in Ukraine’s exports accounted for 43.4% in 3M. Poland ranked second (9.4%), followed by the Czech Republic (8.8%).

As GMK Center reported earlier, in 2020, Ukraine increased iron ore exports by 16% to 46.3 million tons against 2019. In monetary terms, iron ore exports grew by 24.8% to $4.24 billion.

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