Ukraine’s revenues from ore exports jumped by 73% in April

In physical terms, iron ore exports fell by 16.7% over the month

In April 2021, Ukrainian mining & metals companies reduced exports of iron ore and iron ore concentrates by 16.7% to 3.5 million tons y-o-y. In monetary terms, however, iron ore exports rose by 73% to $624.04 million, according to the customs statistics.

In 4M 2021, Ukraine exported 14.2 million tons of iron ore, 8% down from the same period of 2020. In January–April, Ukraine’s mining companies increased revenues from iron ore exports by 88.7% to $2.34 billion y-o-y.

China remains the main consumer of Ukrainian iron ore. Its share in Ukraine’s exports accounted for 44.3% in 4M. The Czech Republic ranked second (9.2%), followed by Poland (8.9%).

As GMK Center reported earlier, in 2020, Ukraine increased iron ore exports by 16% to 46.3 million tons against 2019. In monetary terms, iron ore exports grew by 24.8% to $4.24 billion.

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