Ukraine’s revenues from exports of scrap jumped 27-fold in 7M

In January–July 2021, Ukraine’s revenues from exports of scrap hiked by 27.4 times to $122.7 million y-o-y, according to the customs statistics of the State Statistics Service of Ukraine.

In July 2021, revenues from exports of scrap amounted to $39.9 million against just $164 thousand in July 2020. Last month, a maximum export rate was recorded since the beginning of the year.

In 7M, imports of scrap increased by 2.2 times to $26.9 million. In July this year, Ukraine imported scrap worth $4.6 million against $1.8 million in July 2020 (2.5 times up).

As reported earlier, last week, scrap prices in Ukraine’s domestic market reached this year’s maximum of ₴9.6 thousand/ton. Raw material prices are expected to stabilize in the coming weeks.

Earlier, Ukrmetallurgprom requested the Prime Minister of Ukraine, Denys Shmyhal, to impose a temporary ban on scrap exports until the end of 2023 to maintain stable operation of domestic steel companies.