Ukrainian mining enterprises significantly decreased their iron ore exports (IOE) in the first two months of 2026. During this period, 3 million 309,055 thousand tons of IOE were shipped abroad, which is 40.9% less compared to the same period last year, when exports amounted to 5 million 595,706 thousand tons.
This is reported by Finway
Significant Decline in Foreign Currency Earnings and Main Markets
This data indicates a substantial decrease in foreign currency earnings from the sale of IOE abroad – by 42.1%, to $260.13 million for January-February 2026. In February alone, 1 million 254,516 thousand tons were exported, while in January, 2 million 54,539 thousand tons were shipped.
The main buyers of Ukrainian iron ore remain China (33.37% of the total supply in monetary terms), Slovakia (23.43%), and Poland (16.74%).
Import Dynamics and Data from Previous Years
In January-February 2026, the import of IOE to Ukraine was also minimal – only 180 tons valued at $26 thousand. The majority of supplies came from Poland (76.92%) and Italy (23.08%), with all these shipments taking place in January. In comparison, in January-February 2025, Ukraine imported 11 thousand tons of IOE worth $5 thousand.
By the end of 2025, Ukrainian mining enterprises reduced their IOE exports by 8% compared to the previous year – to 30 million 995,363 thousand tons from 33 million 699,722 thousand tons. The foreign currency earnings in 2025 amounted to $2 billion 337.765 million, which is 16.6% less than the previous year. The main export destinations remained China (44.98%), Slovakia (17.15%), and Poland (16.09%).
Ukrainian mining enterprises reduced their iron ore exports (IOE) in physical terms by 40.9% in January-February of the current year compared to the same period last year – to 3 million 309,055 thousand tons from 5 million 595,706 thousand tons.
In 2025, the import of IOE to Ukraine was 130 tons worth $95 thousand, primarily sourced from the Netherlands (46.32%), Italy (36.84%), and Norway (13.68%). In comparison, in the previous year, the country imported 2,042 thousand tons worth $414 thousand.