Business news from Ukraine

Business news from Ukraine

Ukraine increased exports of scrap metal almost 4 times in 8 months

In January-August this year, Ukrainian enterprises increased exports of ferrous scrap by 3.9 times compared to the same period last year, up to 117,464 thousand tons.

According to the statistics released by the State Customs Service (SCS), in monetary terms, exports of scrap metal amounted to $34.127 million in the period under review (up 2.7 times).

At the same time, the export of scrap metal has been growing since March: in January, about 8.28 thousand tons of scrap were exported, in February – 16.5 thousand tons, in March – 15.45 thousand tons, in April – about 16.19 thousand tons, in May – 21.003 thousand tons, in June – 14.6 thousand tons, in July – 9.567 thousand tons, in August – 15.849 thousand tons.

Scrap metal was exported to Poland (86.20%), Greece (7.91%) and Bulgaria (3.19%).

In the first two months of the year, the country did not import scrap metal; in March-August, it imported 681 tons of scrap worth $261 thousand (49.43% from Slovakia, 21.07% from Poland, 10.73% from Estonia).

Earlier, Ukrmetallurgprom President Oleksandr Kalenkov stated in a column on the Interfax-Ukraine website that scrap metal is exported through the European Union, which has a preferential export duty of EUR3 per ton, and from there the raw materials are redirected to real customers. Exporting raw materials directly to customers would cost EUR180 in export duty, and the Ukrainian budget has already lost UAH 350 million.

According to him, the State Bureau of Investigation has already taken an interest in such export schemes.

The head of Ukrmetallurgprom called for a temporary ban on the export of ferrous scrap to provide steelmakers with strategically important raw materials in the ongoing war.

“If the scrap metal remains in the country, more than 500,000 people will be employed and the country will receive millions in foreign exchange earnings from steel exports. At the same time, the military will also benefit, as steelmakers do a lot to help the military by purchasing equipment and vehicles for them and even producing bulletproof vests. No one benefits from scrap exports. That is why the government should be proactive and temporarily ban exports until the situation stabilizes and ceases to threaten national economic security,” Kalenkov said.

He clarified that a ton of scrap metal processed into steel brings in 10 times more to the budget than the EU export duty, which is about $300 per ton.

As reported, in 2022, Ukraine reduced exports of ferrous scrap by 11.5 times compared to the previous year to 53,557 thousand tons, while in monetary terms it decreased by 12.4 times to $19.271 million. At the same time, last year the country reduced imports of scrap metal in physical terms by 12.6 times to 1,824 thousand tons. tons, compared to the previous year – to $19.271 million tons, in monetary terms by 12.9 times – to $3.488 million. Imports of scrap metal in 2022 were mainly from Turkey (78.92% of supplies in monetary terms), the Russian Federation (13.25%) and Cyprus (5.08%); exports – to Turkey (38.97%), Poland (34.25%) and Greece (10.12%).

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Ukraine to receive $2.3 bln from South Korea for post-war reconstruction

South Korea will provide Ukraine with $2.3 billion for post-war reconstruction: an initial $300 million in 2024 in humanitarian aid and the rest in low-interest loans from 2025, South Korean President Yun Suk-yeol said, South Korea’s Yonhap news agency wrote.

“South Korean President Yun Suk-yeol on Sunday pledged to provide Ukraine with an additional $2.3 billion to help the country restore peace and recover from its war with Russia. Yoon announced the pledge during a session at the G20 summit in New Delhi, saying South Korea will provide an initial $300 million in 2024 in humanitarian aid and the remaining $2 billion in long-term aid – low-interest loans through the Economic Development and Cooperation Fund (EDCF) starting in 2025,” the agency said.

“This will demonstrate our responsible role as a global pivot power in leading assistance to restore peace in Ukraine and lay the foundation for our full participation in Ukraine’s reconstruction,” Yoon Seok-yeol said.

As previously reported, Seoul earlier increased the amount of financial assistance to Ukraine under the state budget to $393 million in 2024.

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“Energoatom” and US Westinghouse signed memorandum on introduction of small modular reactors in Ukraine

NAEK Energoatom and the US-based Westinghouse have signed a memorandum of understanding and cooperation on the introduction of SMR 300 small modular reactors in Ukraine, an Interfax-Ukraine correspondent reports.

According to Westinghouse President Patrick Fragman, the SMR 300 will be a good complement to the larger capacity AP 1000 reactors.

Similar memorandums have already been signed by Westinghouse with Slovakia and Finland.

NAEK and Westinghouse also signed a memorandum to extend the exclusivity period of cooperation for the construction of AP1000 units in Ukraine.

“Certain equipment for the construction of AP1000 in Ukraine has already been manufactured in the United States and thus we will accelerate the process of delivery and construction of the unit,” he specified.

Ukraine draws with England in Euro 2024 qualifier

In the second meeting in the Euro 2024 qualifier with England, the Ukrainian national team drew 1-1 for the first time, Suspilne Sport reported on Saturday.

The match took place in Wroclaw, Poland. During the first half, Ukraine scored a goal in the 26th minute, scored by Oleksandr Zinchenko from a pass from Yukhym Konoplya. The English continued to put pressure on Anatoliy Trubin’s goal, and in the 41st minute Kyle Walker scored the equalizer. In the second half, Englishman Bukayo Saka came close to success, but his shot hit the crossbar. The Ukrainian national team successfully held off the opponent until the end of the match and earned a point – 1:1.

This is the second meeting of the teams since the beginning of the year, on March 26, the English won a 2-0 home victory at Wembley Stadium in London thanks to goals by Harry Kane and Bukayo Saku.

As a result, the Ukrainian national team moved to second place in the group standings with seven points. England is in the lead (14 points), Italy is in third place with three points, followed by North Macedonia, also with three points, and Malta, which has not scored any points.

The next match of the Ukrainian national team will be held on Tuesday, September 12, in Milan, where it will meet the Italian national team.

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Lithuania and Ukraine plan to resume passenger rail transportation on Kyiv-Warsaw-Vilnius route

Ukraine and Lithuania intend to resume passenger rail transportation on the Kyiv-Warsaw-Vilnius route, move veterinary and phytosanitary inspections of transit cargo from Ukrainian-Polish border crossings to the port of Klaipeda, and start Ukrainian airlines flying from the country’s airports, Deputy Minister of Community, Territorial and Infrastructure Development Oleksandra Azarkhina wrote on Facebook.

According to her, these issues were discussed at a meeting of the Intergovernmental Ukrainian-Lithuanian Commission on Trade, Economic, Scientific and Technical Cooperation chaired by Deputy Prime Minister for the Reconstruction of Ukraine and Minister of Community Development, Territories and Infrastructure Oleksandr Kubrakov and Minister of Economy and Innovation of the Republic of Lithuania Aushrine Armonaitė.

“Regarding cooperation in the transport sector, we discussed the main directions of restoring and expanding transport links between Ukraine and Lithuania. Namely: the possibility of resuming passenger transportation by rail and further development of the Kyiv-Warsaw-Vilnius route; bilateral cooperation with the involvement of EU institutions to include Yahodyn-Dorogousk in the Trans-European Transport Network; transfer of veterinary and phytosanitary inspections of transit cargo from Ukrainian-Polish border crossings to the port of Klaipeda; development of new routes for the transportation of goods through Poland, which will increase cargo turnover and expand the range of railroad services.

It is noted that, according to the Lithuanian side, the facilitation of procedural requirements at the Ukrainian-Polish border will allow transporting up to 500 thousand tons of Ukrainian agricultural products per year to the port of Klaipeda. Lithuania also plans to install bogie change terminals for railroad tracks, which will also help increase cargo turnover between the two countries.

In addition to the development of railway communication, the Lithuanian side suggested that Ukrainian airlines consider starting operations in Lithuania and participating in national tenders for strategic destinations.

“We have agreed to deepen cooperation in the aviation sector and hope to resume air travel between Lithuania and Ukraine in the near future,” Azarkhina wrote.

Earlier, Lithuania confirmed the need for the EU to subsidize the transportation of Ukrainian grain through Klaipeda.

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On Monday and Tuesday in Kyiv 24-27°

On Monday, September 11, Ukraine will have no precipitation, wind of variable directions, 3-8 m/s, temperature at night 5-10°, on the seashore up to 13°; during the day 19-24°, in Transcarpathia up to 30°, reports Ukrhydrometcenter.

No precipitation in the capital on September 11. Wind of variable directions, 3-8 m/s. Temperature at night 8-10°, during the day 22-24°.

According to the Borys Sreznevsky Central Geophysical Observatory. On September 11, the highest daytime air temperature was 33.6° in 1898, and the lowest at night was 4.7° in 1935 and 1968.

On Tuesday, September 12, it will be mostly dry in Ukraine, with only light short-term rain and thunderstorms in the Carpathians during the day. Wind of variable directions, 3-8 m/s.

The temperature will be 9-14° at night; 23-28° during the day, up to 30° in Odesa, Zakarpattia and Prykarpattia, 20-22° in the eastern regions.

The weather forecast for Kyiv on September 12 is without precipitation, wind of variable directions, 3-8 m/s, temperature at night 12-14°, during the day 25-27°.