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| Ukraine Iron Ore Exports |
Chinese demand grows despite overall export contraction
Ukraine’s iron ore exports declined by 8% year-on-year, totaling 19.1 million tons in the January–July 2025 period, based on official customs data. The focus keyphrase, Ukraine’s iron ore exports, highlights key trade shifts in response to evolving demand patterns across Europe and Asia.
China strengthens position as Ukraine’s top iron ore importer
The overall decline in Ukraine’s iron ore exports contrasts with China’s increasing demand. Between January and July, China imported 9.98 million tons, representing a 7.8% increase y/y. In comparison, exports to Slovakia and Poland declined by 7.5% and 8.4%, respectively. As a result, China now accounts for more than 52% of Ukraine’s iron ore export volume. Meanwhile, July exports reached 3.01 million tons, up 16% from June and marking the highest monthly volume since January 2025.
Export revenues under pressure despite rising volumes to Asia
Despite growing shipments to Asia, Ukraine’s iron ore export revenues dropped to $1.46 billion, a 20.3% decline y/y. In July, earnings totaled $190.9 million, down 2.4% m/m and 16.7% y/y. Falling global prices and weak European demand continue to suppress profitability. Major Ukrainian producers such as Ingulets Mining, Poltava Mining, ArcelorMittal Kryvyi Rih, and others remain central to sustaining supply amidst logistics constraints and regional market shifts.
ScrapInsight Commentary
China’s surge in iron ore imports reflects short-term demand strength in Asia. However, declining revenues underscore broader price volatility. Ukraine’s export outlook will hinge on freight stability, China’s construction pipeline, and industrial recovery in the EU.
