Ukraine’s revenues from iron ore exports grew 63% in 2021

In 2021, Ukrainian iron & steel companies exported 44.46 million tons of iron ore, 4.2% down from 2020. At the same time, iron ore export revenues grew by 62.8% to $6.9 billion, according to the customs statistics.

In December 2021, Ukraine exported 3.69 million tons of iron ore, 17.1% up from the same month of 2020. In December, Ukraine’s mining companies decreased iron ore export revenues by 49% to $269.84 million compared to the same period of the previous year.

China remains the major consumer of Ukrainian iron ore. Its share in Ukraine’s exports totaled 41.9% in 2021. The Czech Republic ranked second (9.65%), followed by Poland (7.99%).

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.