Analysts at GMK Center report that in the first four months of 2025, the Ukrainian metallurgy sector experienced a significant decrease in export revenue amid falling global prices for metal products. The main blow was to iron ore exports: export volumes shrank by 10.2% to 11.15 million tons, while the export value dropped by 20.9%, amounting to $892.99 million.
This is reported by Finway
Main Reasons for the Decline in Export Revenues
Experts note that the metallurgy sector is facing a challenging situation: production costs are rising due to increased tariffs from state monopolies, while product prices on global markets are declining. Analysts emphasize:
“The situation resembles a pair of scissors: production costs are rising due to high tariffs from state monopolies, while the prices of finished products are falling. To avoid accumulating losses, it is necessary to reduce shipments,” the experts explain.
Forecast for 2025 and Impact on the State Budget
GMK Center forecasts that under current conditions, the total losses in export revenues for Ukraine’s mining and metallurgy complex in 2025 could exceed $1 billion. The results for January-April confirm previous estimates regarding the further deterioration of price conditions in global markets and a decrease in steel exports this year.
At the same time, over the past five years, the largest metallurgical enterprises in the country have paid 190 billion hryvnias in taxes and fees to the state budget, equivalent to $6.2 billion. This underscores the importance of the sector for Ukraine’s economy, despite current challenges and negative trends in external markets.