The Ukrainian mining industry reported a 4.4% decrease in iron ore export volumes for the period of January to October 2025 compared to the same period last year. During this time, 26.56 million tons of ore were shipped abroad.
This is reported by Finway
Main Consumers and Export Volumes
China remains the key importer of Ukrainian iron ore, receiving 14 million tons of raw material in 2025, which is 16.5% more than last year. Slovakia imported 3.72 million tons (a decrease of 8.5%), while Poland received 3.74 million tons (a decline of 12.8%).
Revenue from iron ore exports for the first ten months of 2025 amounted to $2.01 billion, which is 14.3% less compared to the same period in 2024.
Price Dynamics and Market Prospects
Since the beginning of November 2025, the iron ore market has shown a significant decline in prices. January futures fell by 4.4% to $107.4 per ton, while December contracts decreased by 4% to $102 per ton.
“Overall, this month the iron ore market remained under pressure from excess inventories, low margins for metallurgists, and weak demand.”
Analysts predict that in the short term, prices will remain close to current levels or fluctuate within the range of $100-110 per ton. The further development of the situation will depend on the speed of inventory reduction in warehouses and the production policies of Chinese plants ahead of the winter season.