Ukraine's pig iron exports fell by 58% in October 2023

After Ukraine's pig iron exports recovered to a stable monthly average in September, exports fell sharply again. The decline in exports is due to the unfavorable situation in the EU market - the main export market for the Ukrainian steel industry, where the closure of steel companies in the EU amid weak demand for... Steel to low consumption of cast iron produced in Ukraine. In October 2023, Ukraine's pig iron exports fell by 57.9% compared to the previous month and by 26.7% compared to October 2023, reaching 52.99 thousand tons. In monetary terms, exports during this period decreased by 64.9% on a monthly basis and by 26.5% compared to October 2023, reaching $17.45 million, according to data from the Government Customs Service. In the period from January to October 2023, Ukraine exported 1.11 million tons of pig iron worth $423.4 million. Exports decreased by 3.2% compared to the same period in 2022, and revenues decreased by 26.3%. The main consumer of Ukrainian pig iron in January-September 2023 was Poland (53.6%). Spain's share in the total export volume reached 22.6%, in third place followed by the United States of America with 6.2%. Before the war, the United States consumed more than half of the pig iron exported from Ukraine.