Ukraine’s pig iron exports fell by 26.7% in January–October

The US bought more than a half of Ukrainian pig iron

According to the customs statistics available on the website of the State Tax Service of Ukraine (STS), Ukraine’s pig iron exports fell by 26.7% to $645.3 million in January–October compared to the same period of the previous year.

The volume of pig iron exports shrank by 20% to 2 million tons.

In October, Ukraine exported 505.2 thousand tons of pig iron worth $234.6 million.

The share of pig iron exports in the total volume of Ukraine’s foreign trade amounted to 1.6% in the first ten months of 2019.

In January–October, Ukraine sell more than a half of its pig iron to the US (59.69%). Two other largest importers of Ukrainian pig iron were Italy (13.6%) and Turkey (8.6%).

As reported earlier, Ukraine’s pig iron exports fell by 34.8% to $507.9 million in January–August compared to the same period of 2018. The volume of pig iron exports in this period fell by 25.8% to 1.6 million tons. In the opinion of GMK Center analysts, such decrease could be caused by the US restrictions on pig iron imports and lower prices for pig iron.

While in January–August 2018, Ukraine sell 1.266 million tons of pig iron to the US, its exports to the US in the same period of 2019 were only 0.848 million tons.