The metallurgical industry of Ukraine is showing significant growth: in March 2025, the export of pig iron reached 300,900 tons, the highest figure since December 2021. In comparison, in February of this year, exports were only 24,350 tons, the lowest volume since December 2022, while in March of last year, the figure was 92,430 tons.
This is reported by Finway
Drivers of Export Growth
The key factor driving the increase in exports has been the United States. In March, amid expectations of the introduction of tariffs to the U.S., 245,140 tons of products were shipped. In comparison, there were no exports to the U.S. in February.
In January-March 2025, export volumes increased by 25.3% compared to the first quarter of 2024, reaching 453,880 tons, which brings Ukraine a profit of $179.4 million.
Changes in Iron Ore Exports
At the same time, in the first quarter of 2025, Ukraine reduced iron ore exports by 5.7% compared to the same period in 2024. However, compared to the previous quarter, exports increased by 0.5%, reaching 8.49 million tons with a profit of $687.79 million.
However, revenues from the export of ferrous metals decreased by 3.2% in the last quarter, amounting to $728.686 million. Meanwhile, revenue from the export of metal products increased by 3.5%, reaching $238.045 million.