Ukraine’s ore export revenues rose by a factor of 2.2 in August

In August 2021, Ukrainian mining & metals companies exported 3.68 million tons of iron ore, which corresponds to the level of August 2020. In monetary terms, iron ore exports rose by a factor of 2.2 to $778 million, according to the customs statistics.

In 8M, Ukraine exported 29.8 million tons of iron ore, 3.1% down from the same period of 2020. In 8M, Ukraine’s mining companies increased revenues from iron ore exports by 2.3 times to $5.5 billion y-o-y.

China remains the main consumer of Ukrainian iron ore. Its share in Ukraine’s exports amounted to 45.04% in 8M. The Czech Republic ranked second (9.4%), followed by Austria (7.7%).

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.