The EU and the US accounted for the bulk of Ukrainian product consumption
In January-August 2025, Ukrainian steel enterprises increased their exports of pig iron by 64.9% compared to the same period in 2024, to 1.23 million tons. This is evidenced by GMK Center calculations based on data from the State Customs Service.
During this period, 1.01 million tons of pig iron were shipped to the US, which is 101% more y/y, 115,740 tons (+58.7% y/y) to Italy, and 32,160 tons (-15.8% y/y) to Poland.
At the end of August, shipments increased by 26.6% month-on-month and 147.7% year-on-year to 196.89 thousand tons, the highest level since March this year. The US market received 175.6 thousand tons of pig iron (+17.4% m/m; +254.4% y/y), while Poland received 6.81 thousand tons (+102.4% m/m; +68.7% y/y). Italy imported 9.2 thousand tons of products (0 thousand tons in July; -39.7% y/y), and the Netherlands imported 5.21 thousand tons (0 thousand tons in July and August 2024).
Revenue from pig iron exports in August amounted to $76.61 million, which is 23.7% more than in July and 135.5% y/y. Over 8 months, the indicator grew by 70.3% y/y, to $487.92 million.
As a reminder, 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 metallurgists’ 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 mining and metallurgical 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
