In January-July 2025, Ukrainian steel enterprises increased their exports of pig iron by 55% compared to the same period in 2024, to 1.04 million tons. This is evidenced by GMK Center calculations based on data from the State Customs Service.

During this period, 831,690 tons of pig iron were shipped to the US, which is 84.1% more y/y, 106,540 tons to Italy (+84.8% y/y), and 25,350 tons to Poland (-25.7% y/y).

In July, shipments increased by 6% month-on-month and 119% year-on-year to 155.58 thousand tons. The US market received 149.51 thousand tons of pig iron (+48.6% m/m), while Poland received 3.37 thousand tons (-32.4% m/m; -19.6% y/y). No shipments were made to Italy.

Revenue from pig iron exports in July amounted to $61.91 million, which is 5.2% more than in June and 121.8% y/y. Over seven months, the indicator grew by 62% y/y, to $411.32 million.

In 2024, Ukraine increased its exports of commercial pig iron by 3.4% compared to 2023, from 1.25 million tons to 1.29 million tons. At the same time, exports amounted to 1.32 million tons in 2022 and 3.23 million tons in 2021. Ukrainian steelmakers’ export revenue for the year increased by 6.1% to $500.34 million.

During the year, export destinations diversified. In particular, the United States became the main consumer of Ukrainian pig iron, mainly due to the restoration of maritime logistics for Ukrainian iron and steel cargoes. At the same time, exports to the EU declined due to market stagnation. Thus, 940.21 thousand tons (+514% y/y) were shipped to the US, 102.49 thousand tons (+617%) to Turkey, 93.28 thousand tons (+61.9%) to Italy, and 63.05 thousand tons (-90%) to Poland. In 2023, Poland consumed more than half of Ukraine’s pig iron exports (633.34 thousand tons), while in 2024, only 5%.

Source: https://gmk.center/