Ukraine: pig iron exports rose by 46% m/m in November.


Pig iron exports from Ukrainian (Ukraine) steel companies reached 77.36 thousand tonnes in November 2023, a 46% rise over the same month the prior year. During this time, the amount of pig iron supplied overseas rose by 55.6% m/m to $27.16 million. Statistics from the State Customs Service attest to this.

In terms of money and volume, pig iron exports fell by 4.7% and 1.2%, respectively, in November 2023 compared to November 2022.

As a result, after a steep decline in October, pig iron exports started to gradually rebound. Shipments are still far less than the monthly average for 2023 (108.2 thousand tonnes), though.

Unfavourable conditions in the EU market. Which is the primary export market for the Ukrainian steel industry, are probably to blame for the decline in exports.

Ukrainian pig iron consumption decreased as a result of steel industry closures in the EU due to a weak demand for steel.

Ukraine exported 1.19 million tonnes of pig iron valued at $450.6 million between January and November of 2023. From January to November of 2022, export volumes decreased by 3% on an annual basis, but revenue decreased by 25.2%.

January through November of 2023 saw Poland become the primary buyer of Ukrainian pig iron (53.5%). Spain accounted for 22.4% of all exports. With 9.9%, the US came in third place.

More than half of the pig iron exported from Ukraine was consumed in the US prior to the conflict.

As previously reported by Shree Metal Prices, Ukrainian steel companies exported 1.32 million tonnes of pig iron in 2022, a 59% decrease from 2021.

Steelmakers received $638.8 million in revenue from the export of pig iron previously year, a 61.1% decrease from 2021. The United States accounted for 38.47% of all exports, making it the top consumers of raw materials.