In January 2024, exports of ferroalloys decreased to 230 tons of products compared to 2,500 tons in December and 55,900 tons in January 2023. Last year, exports decreased by 4.9% compared to 2022 to 344,200 tons, and by 48.5% compared to 2021. Poland, Turkey, and the Netherlands were the largest consumers of Ukrainian ferroalloys in 2023.
According to 2023’s results, enterprises reduced production by 57.4% compared to 2022. The industry indicators were affected by the complete shutdown of factories starting in November 2023 – the Nikopol and Zaporizhzhya ferroalloy plants and the Marganets Mining and Processing Plant. This happened due to the intensification of hostilities, falling prices for ferroalloys, and logistical restrictions.
One of the main reasons for the shutdown of factories was the increase in prices for electricity transmission, which affected the cost of production and profitability.