Ukraine’s revenues from iron ore exports declined by 20% in November

In November 2021, Ukrainian mining & metals companies exported 3.96 million tons of iron ore, 18% up from November 2020. At the same time, iron ore export revenues declined by 19.7% to $312.75 million, according to the customs statistics.

In January–November 2021, Ukraine exported 36.71 million tons of iron ore, 2.8% down from the same period of 2020. In 11M, Ukraine’s mining companies increased revenues from iron ore exports by 78.7% to $6.63 billion y-o-y.

China remains the major consumer of Ukrainian iron ore. Its share in Ukraine’s exports totaled 42.6% in 11M. The Czech Republic ranked second (9.6%), followed by Poland (7.8%).

As GMK Center reported earlier, in 2020, Ukraine increased iron ore export volumes by 16% to 46.3 million tons against 2019. Iron ore export revenues grew by 24.8% to $4.24 billion.

The major iron ore producers in Ukraine include: Ingulets GOK, Kryvyi Rih Iron Ore Plant, Poltava Mining, Northern GOK, Central GOK, Southern GOK, ArcelorMittal Kryvyi Rih, Sukha Balka GOK and Zaporizhzhia Iron Ore Plant.