Ukraine increased its revenues from exports of pig iron by a factor of 2.4 in May

In May 2021, Ukrainian producers increased pig iron exports by 22.9% to 242.3 thousand tons against May 2020. Revenues from pig iron exports grew by a factor of 2.4 to $157.2 million, according to the customs statistics.

In January–May, Ukrainian steel producers increased revenues from pig iron exports by 70.8% to $600.9 million compared to the same period of 2020.

In 5M, Ukrainian steelmakers exported 1.25 million tons of pig iron, 4.1% up from January–May 2020.

The main export market for Ukraine’s pig iron is the U.S. (59.4%). The share of Turkey in the total exports of Ukrainian pig iron in January–May was 13.8%. Italy ranked third (11.8%).

As GMK Center reported earlier, in 2020, volumes of Ukraine’s pig iron exports grew by 20.3% to 3.1 million tons against 2019. Revenues from pig iron exports rose by 15% to $922.2 million.

In 2020, Ukraine sold more than a half of its pig iron to the U.S. (58.5%). China ranked second in terms of volumes of imports from Ukraine (21.8%), followed by Turkey (5.9%).