Ukraine’s pig iron exports fell by 27% in November

In November 2020, Ukrainian mining & metals companies’ exports of pig iron shrank by 27.2% to 253.03 thousand tons against November last year. In monetary terms, exports fell by 11.5% to $83.1 million, according to the customs statistics.

In January–November, Ukrainian steel producers increased revenue from pig iron exports by 11.8% to $826.1 million compared to the same period of 2019.

In 11M, Ukrainian steelmakers exported 2.83 million tons of pig iron. This is 20.2% up from January–November last year.

The main export market for Ukraine’s pig iron is the U.S. (58.7%). The share of China in the total exports of Ukrainian pig iron in January–November was 22.2%. Turkey ranked third (6.4%).

Interestingly, Ukrpromzovnishekspertyza reported an increase in pig iron quotations in November. This was caused by an increase in the cost of scrap and flat products as well as a decrease in capacity utilization rates in Brazil and minimum supply offered by producers from the CIS.

As GMK Center reported earlier, in 2019, Ukraine’s exports of pig iron declined by 23.8% to $801.9 million compared to the previous year. Pig iron exports dropped by 14.2% in physical terms to 2.6 million tons.

In 2019, Ukraine sold more than a half of its pig iron to the U.S. (58%). Italy ranked second in terms of imports from Ukraine (12.43%), followed by Turkey (10.27%).