Ukrainian enterprises in January-October this year, reduced the export of scrap ferrous metals in 13.3 times compared to the same period last year – up to 37.774 thousand tons.
According to statistics released by the State Customs Service (SCS), in monetary terms, the export of scrap metal during this period decreased by 13.4 times – to $14.589 million.
At the same time, the country has reduced the import of scrap metal in volume terms by 11.7 times to 1.691 thousand tons for ten months. In monetary terms, the import of scrap decreased by 10.8 times – to $ 3.453 million.
In addition, steel companies in Ukraine in January-October 2022, did not import products of direct reduction of iron ore to code 7203 – hot briquetted iron, which is a substitute for pig iron and scrap, but exported 258 tons of these products to India (100%) amounting to $ 48 thousand.
As reported, Ukraine in 2021 increased exports of scrap metal in 17.2 times compared to the previous year – up to 615.687 tons. In monetary terms, exports of scrap metal increased by 25.2 times to $238.895 million.
In 2021, the country reduced imports of scrap metal by 13.1% in volume terms, to 22.964 thousand tons. In monetary terms, scrap imports increased by 72.4% to $44.883 million.
Imports of scrap metal in 2021 was carried out mainly from Turkey (60.42% of supplies in monetary terms), Russia (33.44%) and Belarus (1.57%); exports – to Turkey (84.85%), Romania (6.66%) and Poland (3.45%).
In addition, steel companies in Ukraine in 2021 imported from Russia 1.603 tons of products of direct reduction of iron ore to code 7203 – hot briquetted iron (HBI), which is a substitute for pig iron and scrap, worth $ 653 thousand, while in 2020 – 2.648 tons to $ 805 thousand. In this case, the export of products to India was 288 tons to $91 thousand.
The dollar is moderately depreciating against the euro and appreciating against the yen on Wednesday morning as investors assess geopolitical risks and U.S. inflation data.
The ICE-calculated index, which shows the U.S. dollar’s performance against six currencies (euro, Swiss franc, yen, Canadian dollar, pound sterling and Swedish krona), is up less than 0.1%, as is the broader WSJ Dollar Index.
The day before, the dollar index had fallen to a three-month low on further signals of slowing U.S. inflation.
As it became known on Tuesday, producer prices in the United States (PPI) rose 8 percent year-over-year in October and 0.2 percent against September. Analysts polled by Trading Economics forecasted an average increase of 8.3% for the former index and 0.4% for the latter.
Meanwhile, Rafael Bostic, head of the Federal Reserve Bank (FRB) in Atlanta, expressed the view that the Fed should continue to raise interest rates until there are signs of widespread easing in inflation. “We haven’t seen that yet, so I believe we will need new rate hikes,” Bostick wrote. He added, however, that he sees “glimmers of hope” in the past three months, but prices are falling mostly for goods, not services.
The currency market is also reacting to news of a rocket explosion in Poland, which killed two people. A number of media outlets wrote that the missile could have come from Russian territory.
However, Polish President Andrzej Duda said the government could not yet confirm who fired the missile, and U.S. President Joe Biden said it was unlikely that it came from Russian territory.
The Russian Defense Ministry denied that the rockets were Russian, saying that the military had not struck any targets near the Ukrainian-Polish border.
The euro/dollar pair was trading at $1.0370 by 7:52 a.m., versus $1.0350 at the close of Tuesday’s session, with the euro strengthening 0.2%.
The dollar/yen is up 0.4% at 139.82 yen, up from 139.31 yen at the end of last session.
The pound is stable and trading at $1.1865.
US President Joe Biden has asked Congress to allocate an additional $37.7 billion in aid to Ukraine, AP reported.
The information notes that $21.7 billion is defense aid to continue providing Ukraine with equipment and restocking the Defense Department.
The Biden administration is asking for $14.5 billion for humanitarian aid and support for the functioning of the Ukrainian government, as well as $900 million for health care and support services for Ukrainians living in the United States, and $626 million to support Ukrainian nuclear security and modernize the Strategic Petroleum Reserve.
Poland is holding talks with NATO allies and is analyzing the possibility of resorting to Article 4 of the NATO consultation treaty, the Polish presidential office said, citing Polish National Security Directorate head Jacek Syvera.
“President Andrzej Duda just finished a conversation with (NATO Secretary General) Jens Stoltenberg. We are verifying the grounds for NATO Article 4. We are in contact with our allies and awaiting talks with the U.S. side,” the tweet read.
Earlier, Latvian Deputy Prime Minister and Defense Minister Artis Pabriks said of the possibility of invoking NATO Article 4.
“My first reaction would be that after the Russians hit the Polish territory, to engage Art. 4, also as an air defense of the Ukrainian sky,” he tweeted.
Article 4 of NATO states: “The Contracting Parties will always consult each other in the event that, in the opinion of any of them, the territorial integrity, political independence or security of any of the Contracting Parties is threatened.
In January-September 2022, PJSC Insurance Guarantees of Ukraine (SGU) collected UAH 339,000 of gross premiums, which is 92.8% less than in the same period in 2021, follows from the information of the Expert Rating rating agency on confirmation financial strength rating of the insurer/credit rating on the national scale at the level of “uaAA” based on the results of its work for the specified response period.
At the same time, it is noted that the decrease in the insurer’s gross premiums in the analyzed period of 2022, among other things, is associated with the specialization of PJSC “SGU” in cargo insurance and with a significant reduction in the transportation of those in need of insurance due to the Russian attack and the introduction of martial law in Ukraine.
As of September 30, 2022, the company’s equity increased by 0.24% to UAH 37.47 million, while its gross liabilities increased by 17.66% to UAH 19.09 million. As a result, there was a decrease in the ratio between equity and liabilities by 34.13 percentage points. up to 196.31%.
The volume of cash and cash equivalents on SGU accounts amounted to UAH 50.03 million, and the level of cash coverage of the insurer’s obligations decreased by 20.23 percentage points. up to 262.15%.
The company’s financial results for the first nine months of 2022 improved compared to the same period in 2021. In particular, for the first three quarters of 2022, the insurer received a net profit of UAH 0.26 million compared to a loss for the nine months of 2021, and the amount of damage from operating activities also decreased.
The RA notes that, according to the reporting provided by the insurer, as of September 30, 2022, the company complied with the criteria and standards established by law for solvency and capital adequacy, liquidity, profitability, asset quality and riskiness of the insurer’s operations.
PrJSC “SGU” was registered in November 2005. It has licenses to carry out 15 types of insurance activities, including four – for the implementation of compulsory types of insurance, 11 – voluntary insurance.
TAS Insurance Group (Kyiv) in October paid 33.6% less insurance claims under concluded insurance contracts than in October a year earlier – UAH 63.25 million against UAH 95.24 million, respectively, according to the insurer’s website.
At the same time, almost a third of all payments by the insurer in October – 30.12%, or UAH 19.06 million – fell on CASCO, 44.9%, or UAH 28.4 million – on OSAGO.
Under the Green Card policies, UAH 4.11 million, or 6.5% of the company’s total payments in October of this year, were reimbursed.
At the same time, the share of VHI, for which UAH 9.56 million was paid in the reporting month, amounted to 15.12% in the company’s payment portfolio for this period.
Under other insurance contracts, IG “TAS” paid UAH 2.12 million in October.
