Ukraine’s pig iron exports rose by 8.3 per cent y/y in January–May

In January–May 2026, Ukraine’s steelworks increased their exports of merchant pig iron by 8.3% compared with the same period in 2025, reaching 797.68 thousand tonnes. This is according to calculations by the GMK Centre based on data from the State Customs Service.

During the period, 695.74 thousand tonnes of pig iron were shipped to the US, up 19.6% year-on-year; 26.5 thousand tonnes to Italy (down 64.9% year-on-year); and 10.92 thousand tonnes to Poland (down 35.8% year-on-year).

In May, product shipments fell by 12.3% month-on-month and by 1.8% year-on-year to 159.38 thousand tonnes. 110.32 thousand tonnes of pig iron were shipped to the US market (-32.3% month-on-month; +4.5% year-on-year), and 2.62 thousand tonnes to the Polish market (+8% month-on-month; +5.7% year-on-year). No products were supplied to Italy last month.

Revenue from pig iron exports over the first five months amounted to $309.56 million, up 6.5% year-on-year. In May, the figure fell by 9.4% month-on-month but rose by 2.7% year-on-year, to $65.99 million.

It should be noted that in 2025, Ukraine’s steelworks increased their exports of merchant pig iron by 53.5% compared with the same period in 2024, reaching 1.98 million tonnes. Revenue from pig iron exports for the year amounted to 759.88 million, up 51.9% year-on-year.

During the period, 1.33 million tonnes of pig iron were exported to the US, a 41.6% year-on-year increase; to Italy – 416.31 thousand tonnes (+346.3% year-on-year); to Poland – 61.37 thousand tonnes (-2.7% year-on-year); the Netherlands – 52.03 thousand tonnes.

In the fourth quarter, pig iron export volumes rose by 35.7% compared with the same period in 2024 and by 11.9% compared with the previous quarter, reaching 579.47 thousand tonnes. This is the highest quarterly figure since the start of the full-scale invasion.