Ukraine Recorded Massive Drop in Scrap Metal Exports

SEATTLE (Scrap Monster): The Customs statistics published by the State Fiscal Service of Ukraine points to drastic decline in ferrous scrap metal exports by the country during the first five months of the current year.

According to data, ferrous scrap metal exports totaled 36,515 tonnes in Jan-May ’18, significantly down by 85.7% when compared with the corresponding five-month period in 2018. The exports had totaled 250,984 tonnes in the first five months of 2018. The value of exports recorded massive year-on-year decline by over 88% from $83.48 million to $9.98 million. The primary destinations of scrap metal exports from Ukraine were Turkey, the Netherlands and Germany.

The exports totaled 8,086 tonnes in the month of May 2019 alone.

On the other hand, the scrap metal imports by Ukraine surged by over 38% from the previous year to total 28,710 tonnes. The value of imports recorded nearly 11% year-on-year decline to $14.79 million.

The primary source of scrap metal imports by Ukraine during Jan-May ’19 was Russia, which accounted for more than 49% of total imports by value by the country.  The other key suppliers were Turkey and South Korea which accounted for 43.71% and 3.13% share of the Ukranian imports by value.

It must be noted that Ukraine’s scrap metal exports had witnessed a decline by nearly one-third in 2018, as compared with the year before that.