In January-February this year, Ukrainian companies increased exports of ferrous scrap by 62.6% year-on-year to 40,354 thousand tons from 24,822 thousand tons.
According to statistics released by the State Customs Service (SCS) on Wednesday, exports of scrap metal increased 2.15 times in monetary terms to $12.903 million from $7.104 million.
Scrap metal exports in January-February were carried out to Poland (95.50%), Germany (4.39%) and Lithuania (0.09%).
In February, 23,194 thousand tons of scrap metal were exported (17,160 thousand tons in January) for $7.825 million ($5.078 million in January).
In the first two months of the year, the country imported 191 thousand tons of scrap metal for $68 thousand. Imports were carried out from Slovakia (77.94% in monetary terms), Poland (16.18%) and Moldova (5.88%), while in January-February 2023, 45 thousand tons were imported for $16 thousand.
As reported, in 2023, the scrap collecting enterprise of Ukraine increased the export of scrap metal from the country by 3.4 times compared to the previous year – up to 182,485 thousand tons from 53,557 thousand tons. In monetary terms, exports increased 2.74 times to $52.723 million from $19.271 million.
Earlier, Ukrmetallurgprom President Oleksandr Kalenkov stated in an op-ed 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. He noted that exporting raw materials directly to customers would cost EUR180 in export duties, and the Ukrainian budget has already lost UAH 350 million.
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. He also 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.
In 2022, Ukraine reduced exports of ferrous scrap by 11.5 times compared to the previous year, to 53,557 thousand tons, and in monetary terms, it decreased by 12.4 times, to $19.271 million.
Estimated number of population in regions of Ukraine based on number of active mobile sim cards (mln)
Source: Open4Business.com.ua and experts.news
In January-February of this year, Ukrainian mining companies increased exports of iron ore in physical terms by 2.64 times compared to the same period last year, to 5 million 664.230 thousand tons.
According to the statistics released by the State Customs Service on Wednesday, foreign exchange earnings from iron ore exports increased 2.34 times to $552.818 million over the period under review.
Iron ore was exported mainly to China (40.32% of supplies in monetary terms), Slovakia (17.22%) and Poland (11.50%).
In the first two months of 2024, Ukraine imported iron ore worth $29 thousand in a total volume of 102 tons, while in January-February 2023, it imported iron ore worth $17 thousand in a volume of 28 thousand tons. Imports in January-February 2024 were carried out from Norway (44.83%), Slovakia (27.59%) and Italy (27.59%).
As reported, in 2023, Ukraine decreased exports of iron ore in physical terms by 26% compared to 2022 – to 17 million 753.165 thousand tons, foreign exchange earnings from iron ore exports amounted to $1 billion 766.906 million (down 39.3%). Iron ore was exported mainly to Slovakia (28.39% of supplies in monetary terms), the Czech Republic (19.74%) and Poland (19.56%).
Last year, Ukraine imported iron ore worth $135 thousand in the total amount of 250 tons. During this period, imports were made from Norway (34.81%), Italy (28.89%) and the Netherlands (28.89%). While in 2022, iron ore was imported for $65 thousand in a total volume of 101 tons.
In 2022, Ukraine decreased exports of iron ore in physical terms by 45.9% compared to 2021 – to 23 million 984.623 thousand tons, while foreign exchange earnings decreased by 57.8% to $2 billion 912.974 million. Iron ore was exported mainly to Slovakia (19.23% of supplies in monetary terms), the Czech Republic (17.32%) and Poland (16.49%).
In 2022, Ukraine imported iron ore worth $65 thousand in a total volume of 101 tons, while in 2021 – $184 thousand in a volume of 1,202 thousand tons. Imports were carried out from Norway (36.92%), the Netherlands (27.69%) and the UK (16.92%).
Promarmatura PrJSC (Dnipro) reported a net profit of UAH 11.407 million in 2023 compared to a net loss of UAH 29.995 million in 2022.
According to the agenda of the general meeting of shareholders scheduled for April 18 this year, which will be held remotely, the shareholders intend to leave this profit undistributed.
The meeting also intends to consider the CEO’s report for the past year, approve the results of financial and economic activities for 2023, decide on the procedure for distributing profits for 2023 and on the payment of annual dividends on the company’s shares. In addition, the shareholders will have to consider the auditor’s findings and give preliminary consent to significant transactions.
“The net profit earned by the company in 2023 in the amount of UAH 11.407 million shall be retained by the company to fulfill its statutory objectives. Annual dividends based on the company’s performance in 2023 shall not be accrued or paid,” the draft resolutions of the meeting state.
Retained earnings at the end of 2023 amounted to UAH 130.586 million.
Promarmatura was founded in December 1994 and operates in the pipeline fittings market.
According to the third quarter of 2023, 50% of the company’s shares are owned by two individuals – Ukrainian citizens Igor Mezhebovsky and Alexander Chelyadin.
The authorized capital of the company is UAH 7.218 million.
Ukraine will supply the entire crop of the 2023-2024 marketing year and the remnants of last year’s harvest to world markets by mid-to-late May, Deputy Minister of Community Development, Territories and Infrastructure Yuriy Vaskov said at the Forbes Ukraine Exporters Summit in Kyiv on Friday.
“It is my opinion that somewhere between mid-May and the end of May, at most, the entire harvest of the current year and the remnants of the previous year will be exported,” he said, adding that prices of terminals for the export of Ukrainian agricultural products in Ukrainian ports will not decrease.
Mr. Vaskov also reminded that the state has several mechanisms to guarantee export transportation through the Black Sea. The first of them is compensation from the state budget in case of a possible attack on civilian vessels.
The second mechanism is the Unity program from Marsh McLennan and the Ukrainian government with the involvement of English clubs, to which Ukraine has also contributed, so that ships transporting agricultural products receive insurance with a premium of 1% or less.
The Deputy Minister also said that a meeting was held in London a few weeks ago. Ukraine has already received confirmation that ships carrying other cargoes, such as iron ore, metal products, and others, will be insured on similar terms.
“Ukraine has also raised the issue of container shipping insurance and received London’s consent to provide attractive conditions for shipowners,” Vaskov summarized.
As reported, thanks to the UNITY insurance instrument, insurance rates in the commercial market of transportation by Ukrainian sea have been halved, while the rate for agricultural products insurance is now 0.75%.
The UNITY insurance instrument is available to all international brokers who can be contacted by ship owners and Ukrainian exporters.
The UNITY program, which aims to provide affordable insurance against military risks for the supply of grain and other important food products around the world, was launched in November 2023. UNITY offers hull hull insurance and separate protection and indemnity (P&I) against war risks at significantly reduced premiums compared to standard market prices.
The volume of foreign direct investment (FDI) in the economy of mainland China in January-February 2024 decreased by 19.9% compared to the same period last year and amounted to 215.1 billion yuan ($30 billion), according to the Ministry of Commerce.
In particular, the inflow of foreign investment in the high-tech sector increased by 10.1% to 28.27 billion yuan.
At the same time, France’s foreign direct investment in China in January-February increased by 6.9 times in annual terms, Spain’s – by 5 times, Germany’s – by 2.4 times.
Over two months, 7.16 thousand new enterprises with foreign capital were registered in the country, which is 34.9% more than in January-February 2023, Xinhua reports.
“The 34.9% growth is the highest in the last five years. This indicates that multinationals are still optimistic about the development opportunities of the Chinese market,” a ministry spokesperson told the agency. – “Despite the decline in the volume of actually utilized FDI in the first two months, this is the third highest figure in the last ten years.
“At present, the favorable factors for attracting foreign investment in China outweigh the unfavorable ones, and the investment prospects are still bright,” the ministry representative added.
As reported, the volume of FDI in 2023 decreased by 8% and amounted to 1.13 trillion yuan.
