How was the Ukrainian metal trade in 2024?

In January-November, Ukrainian mining enterprises increased their iron ore raw materials exports by 87.4% compared to the same period last year – to 30.25 million tons. Revenue increased by 55.8% to $2.53B. Iron ore exports were carried out mainly to China, Poland, and Slovakia. As well, Ukraine imported 2,031 tons of iron ore for $409,000 (last year – 244 tons for $131,000). Imports were carried out from Poland, the Netherlands, and Norway.

In addition, Ukrainian enterprises increased their revenue from exports of ferrous metals by 18.06% – to $2.87B. Import costs increased by 14.3% to $1.37B. The value of metal products exports increased by 6% to $871M. Expenditures increased by 16% to $960.59M.

Meanwhile, Turkey increased its import of steel billets from Ukraine by 210% in the first 10 months of the year compared to the same period last year to 177,010 tons. In total, Turkey imported 2.8 million tons of billets (+5.3%), and Ukraine is sixth in terms of supply volume.