Ukrainian ferroalloy exports surge in May despite year-on-year decline
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Update time : 2024-06-21 17:09:51
In May 2024, Ukrainian ferroalloy enterprises exported about 5,500 tons, marking an 88.6% decrease from May 2023 but a significant increase from the previous month's 450 tons. According to the State Customs Service, export revenues fell by 86.3% year-on-year but surged 4.7 times month-on-month to US$5.88 million.
May's export volumes were the highest since November 2023. From December 2023 to April 2024, exports dwindled to record lows (200 - 400 tons) due to front-line proximity, falling ferroalloy prices, high production costs, and mobilization challenges.
Sergiy Kudryavtsev, executive director of the Ukrainian Ferroalloy Producers Association, noted that Zaporizhzhia Ferroalloy Plant resumed operations in May, likely boosting exports. However, the plant operates at only 7% capacity. Nikopol Ferroalloy Plant is also considering resuming operations while other plants remain idle.
From January to May 2024, exports totaled nearly 6,700 tons, a 95.7% decrease from the previous year, with revenue dropping to US$9.55 million. Poland, Romania, and Moldova were the main export destinations.
