Business news from Ukraine

Business news from Ukraine

Ukraine reduced exports of titanium ores by 43%

16 June , 2024  

In January-May this year, Ukraine reduced exports of titanium ores and concentrate in physical terms by 43.1% year-on-year to 3,207 thousand tons.

According to statistics released by the State Customs Service (SCS) on Thursday, exports of titanium ores and concentrate decreased by 43.5% to $5.303 million in monetary terms.

The main exports were to Turkey (68.87% of supplies in monetary terms), the Philippines (6.32%) and Poland (5.83%).

At the same time, experts point to inconsistencies in the statistics on titanium ore exports. In particular, at the request of Interfax-Ukraine, Velta Production and Commercial Firm (PCF) LLC with titanium ore mining assets in Novomyrhorod (Kirovohrad region) reported that in January-February 2024 alone, the company exported more than 15 thousand tons of ilmenite (titanium concentrate) to the Czech Republic and Mexico. At the same time, experts believe that the GTS provides data only on the supply of rutile (also a titanium-containing ore).

In five months of 2024, Ukraine imported 56 tons of titanium ore from China worth $86 thousand.

As reported, in 2023, Ukraine reduced exports of titanium ore in physical terms by 96.4% compared to 2022 – to 11,648 thousand tons, while revenue decreased by 85.1% to $19.426 million. At the same time, the main exports were made to Turkey (38.21% of supplies in monetary terms), Japan (16.53%) and India (6.12%).

During this period, Ukraine imported 1 ton of such ore from the Netherlands for $2 thousand.

In 2022, Ukraine decreased exports of titanium ore by 41.8% year-on-year to 322.143 thousand tons, and by 19.6% in monetary terms to $130.144 million. The main exports were made to the Czech Republic (47.91% of supplies in monetary terms), the United States (11.94%) and Romania (9.75%).

In 2022, Ukraine imported 196 tons of similar products from Senegal (70.41%) and Turkey (29.59%) for $115 thousand.

In Ukraine, titanium ores are currently mined mainly by the United Mining and Chemical Company (UMCC), which manages Vilnohirsk Mining and Metallurgical Plant (VGMK, Dnipro region) and Irshansk Mining and Metallurgical Plant (Irshansk, Dnipro region). ) and Irshansk Mining and Processing Plant (IGOK, Zhytomyr region), as well as Mezhirichinsky GOK and Valky Ilmenite (both based in Irshansk, Zhytomyr region). In addition, Velta (Dnipro) has built a mining and processing plant at Birzulivske deposit with a capacity of 240 thousand tons of ilmenite concentrate per year.

In addition, Velta, a Dnipro-based industrial and commercial company, has built a mining and processing plant at the Birzulivske deposit with an annual capacity of 240 thousand tons of ilmenite concentrate.

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