Ukraine to Witness Drastic Dip in 2025 Iron Ore Exports
Iron Ore | 2025-05-21 23:28:30
Also, the iron ore production in the country has witnessed notable decline.
By Paul Ploumis
SEATTLE (Scrap Monster): The Ukrainian iron ore industry is poised to face challenges in 2025. The exports of the commodity are predicted to witness a sharp decline, falling by almost one-fifth during the year.
Over the first four months of this year, the nation's iron ore exports saw a 20.9% decrease in value, falling to $892.99 million. Exports dropped 10.2% to 11.15 million tons in terms of physical volumes. Over $235 million in foreign exchange revenue has been lost as a result of the sharp decline in exports. Iron ore exports from Ukraine are predicted to drop by almost 20% annually to 27 million tons in 2025. It should be mentioned that in 2024, exports amounted to approximately 33.6 million tons.
Additionally, the nation's production of iron ore has significantly decreased. One of Ukraine's three biggest iron ore producers, Ferrexpo, reduced its output by 26% to 1.35 million tons during the first quarter. Due to the failure to reimburse VAT on exported goods, its two pelletizing facilities were shut down. Due to disagreements with the State Tax Service, Southern Mining is about to close, while Metinvest Group's Ingulets Mining has not operated since last summer. Additionally, in March 2025, the Kryvyi Rih Iron Ore Plant (KZHRK) ceased operations.
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