May 12, 2024

Ukrainian export of iron ore is growing - in April it amounted to 3.4 million tons, which is the highest volume since the beginning of the year.

According to customs statistics, in April 2024, exports of Ukrainian iron ore amounted to 3.4 million tons, which is again the highest figure since the beginning of the full-scale Russian invasion.

For comparison, 3.34 million tons of ore were exported in March, 2.5 million tons in February, and 3.1 million tons in January.

In total, in the first four months of 2024, Ukraine exported 12.4 million tons of iron ore worth $1.1 billion (compared to 5.3 million tons and $591 million during the corresponding period of 2023).

If to compare with the figures before the full-scale invasion, in January 2022 iron ore exports amounted to 3.85 million tons.

On the positive side for Ukrainian miners (first of all, Metinvest and Ferrexpo), we note that after a significant decrease at the beginning of 2024, world prices for iron ore increased by more than 15% during the last month.

In 2023, Ukraine exported 17.8 million tons of iron ore worth $1.8 billion.

In 2022, exports amounted to 24 million tons for $2.9 billion, in 2021 - 44 million tons for $6.9 billion.