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iron ore - Latest Articles GMK Center

Photo – In January-June, Ukrzaliznytsia shipped almost 16 million tons of iron ore
In January-June, Ukrzaliznytsia shipped almost 16 million tons of iron ore

Transportation of ferrous metals for export in the first half of the year reached 3.7 million tons

Photo – Ukrzaliznytsia introduces two more conventions: for iron ore and pig iron rail shipments
Ukrzaliznytsia introduces two more conventions: for iron ore and pig iron rail shipments

From July 12, rail transportation of pig iron to Poland through the Mostyska 2 crossing is limited, and from July 16 – transportation of iron ore to Slovakia

Photo – Ukraine reduced iron ore exports by 24% in the first half of 2022
Ukraine reduced iron ore exports by 24% in the first half of 2022

Iron ore exports in monetary terms fell by 44.8% over 6 months

Photo – Australia expects ore prices to drop to $115/t in 2022
Australia expects ore prices to drop to $115/t in 2022

In 2023 and 2024, the cost of ore will fall even lower - to $85/t and $70/t

Photo – ArcelorMittal imposed part-time schedules for most employees since July
ArcelorMittal imposed part-time schedules for most employees since July

The company is forced to revise the employees schedules, as it can no longer pay full wages

Photo – Britain announced a ban on the import of ore and steel from Belarus
Britain announced a ban on the import of ore and steel from Belarus

New package of sanctions includes a $73 million import and export ban on goods

Photo – Iron ore market in EU is waiting for redistribution
Iron ore market in EU is waiting for redistribution

Diversification of supplies is required due to expected export cut from Ukraine

Photo – European steelmakers will lose supply of iron ore from Ukraine
European steelmakers will lose supply of iron ore from Ukraine

Due to the war and unfavorable market conditions, supplies began to decline

Photo – In June, Ukraine reduced iron ore exports by 23%
In June, Ukraine reduced iron ore exports by 23%

In monetary terms, iron ore exports fell by 32.8% in 4 months

Photo – Fitch: Global iron ore production will increase in 2022-2026
Fitch: Global iron ore production will increase in 2022-2026

The agency expects production to grow by an average of 2.7% in 2022-2026, compared to a decrease of 1.3% in 2017-2021

Photo – Iron ore prices decline threatens Ukraine’s exports
Iron ore prices decline threatens Ukraine’s exports

Panic is at the raw materials and metal markets

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