Ukraine: Ferroalloy exports decreased by 45% month-on-month in August

In August 2023, Ukraine's ferroalloy exports slightly decreased. This month, compared to July, their ferroalloy exports decreased by 45% month-on-month to 12990 tons in August 2023.

Compared to August 2022, the export of ferroalloys in August 2023 decreased by 23.4% year-on-year. These export revenues also decreased by 56.5%, and from January to August 2023, Ukraine exported a total of 312440 tons.

Poland is the largest buyer of Ukrainian ferroalloys, accounting for 55.9% of total currency exports. Türkiye ranked second with a share of 12.2%, followed by the Netherlands with 8.1%.

Why has exports decreased?

1、Russian missile attack: Due to the power outage caused by the missile attack, the supply of raw materials was interrupted, affecting the operation of the industry. In the first quarter of 2023, the production of Ukrainian ferroalloy producers decreased by 2.7 times compared to the same period last year.

2、Power outage impact: The Pobuzhsky Ferronickel Plant had to close due to power outage. In addition, the company relies on imported raw materials, which are also affected by port blockades.