Ukraine Iron Ore Exports Decline 7% in January-August 2025

Ukraine Iron Ore Exports Drop Amid Shifting Market Demand

Ukraine’s mining industry reduced iron ore exports by 7% year-on-year in the first eight months of 2025, totaling 21.7 million tons. This decline contrasts with strong demand in some key markets. China remains the largest consumer, increasing imports by 10.3% year-on-year to 11.32 million tons. Meanwhile, Slovakia and Poland reduced their imports by 9.2% and 12%, respectively, reflecting shifting regional dynamics.

In August alone, Ukraine exported 2.53 million tons of iron ore, a 15.8% decrease from July but slightly up by 0.7% compared to August 2024. Notably, China’s imports dipped 21.7% month-on-month but surged 34.4% year-on-year, while Slovakia and Poland continued to reduce volumes. These fluctuations suggest that while Asian demand remains strong, European markets face ongoing challenges.

Export Revenue and Industry Outlook for Ukrainian Iron Ore

Export revenues from Ukraine’s mineral resources fell sharply, with August earnings down 9.3% month-on-month and 14% year-on-year to $173.14 million. Total revenues from January to August dropped 19.6% year-on-year, amounting to $1.63 billion. This downturn contrasts with 2024’s record iron ore export growth, which rose 89.9% to 33.7 million tons due to the reopening of maritime corridors.

Leading Ukrainian iron ore producers such as Ingulets Mining, Kryvyi Rih ZRK, and ArcelorMittal Kryvyi Rih continue to navigate this complex landscape. Despite near-term export challenges, the sector aims to stabilize as global trade routes and demand patterns evolve.

SuperMetalPrice Commentary:

Ukraine’s iron ore export decline in early 2025 highlights ongoing geopolitical and market volatility. However, China’s robust demand offers a vital lifeline for producers. The sector must closely monitor European market shifts and adapt supply chains to maintain competitiveness. Strategic investments in logistics and production efficiency will be key to navigating uncertain global conditions.