In January-April of this year, ferrous scrap companies increased scrap supplies to Ukrainian steelmakers by 52.3% year-on-year to 446 thousand tons from 292.8 thousand tons.
As reported in the operational information of the Ukrainian Association of Secondary Metals (UAVtormet) on Monday, scrap metal procurement in the first four months of this year increased by 53.7% compared to the same period last year – up to 563.4 thousand tons from 366.6 thousand tons.
At the same time, exports of scrap metal for the period amounted to 87.4 thousand tons compared to 56.4 thousand tons in January-April 2023 (an increase of 54.9%). At the same time, imports of scrap amounted to 0.34 thousand tons compared to 0.06 thousand tons in 4 months of 2023.
As of May 1, 2023, the level of scrap metal stocks at Ukrainian steelmaking enterprises was estimated at 25-30 thousand tons.
In 2024, companies dealing with ferrous scrap may increase their scrap procurement by 37-45% year-on-year to 1.75-1.85 million tons.
According to UVTORMET’s forecast, Ukraine will produce 7-7.2 million tons of steel in 2024 (6.228 million tons in 2023 and 6.263 million tons in 2022) and procure 1.75-1.85 million tons of scrap metal (1,277.3 thousand tons in 2023 and 996.7 thousand tons in 2022). Steelmakers are also expected to consume 1.4-1.5 million tons of scrap (1 million 34.7 thousand tons in 2023 and 895.7 thousand tons in 2022) and export 250-300 thousand tons of scrap (182.5 thousand tons and 53.6 thousand tons, respectively), increasing the export of strategic raw materials for steelmakers by 37-64% compared to last year.
In January-April this year, Ukrainian companies increased imports of copper and copper products by 41.4% in value terms compared to the same period last year, to $53.034 million.
According to customs statistics released by the State Customs Service of Ukraine on Friday, exports of copper and copper products decreased by 8.1% to $25.077 million over the period.
In April, Ukraine imported $11.015 million worth of copper and exported $6.949 million.
In addition, in January-April 2024, Ukraine increased imports of nickel and products by 60.1% compared to the same period in 2023 to $8.484 million (in April – $787 thousand million), aluminum and aluminum products by 26.6% to $136.761 million (in April – $38.235 million).
At the same time, it reduced imports of lead and lead products by 13.8% to $406 thousand (in April – $124 thousand), imports of tin and tin products increased by 10.2% to $887 thousand (in April – $267 thousand), and increased imports of zinc and zinc products by 59.9% to $17.217 million (in April – $5.357 million).
Exports of aluminum and aluminum products in the first four months of 2024 increased by 5% compared to the same period a year earlier to $33.008 million (in April – $9.608 million), lead and lead products decreased by 35.3% to $3.537 million (in April – $703 thousand), nickel and nickel products amounted to $217 thousand (in April – $123 thousand), while in January-April 2023 it was $104 thousand.
Zinc exports for the first four months of this year amounted to $73 thousand (in April – $29 thousand), while in January-April 2023 it amounted to $48 thousand. Exports of tin and products amounted to $107 thousand (in April – $26 thousand) against $48 thousand in the same period a year earlier.
As reported, in 2023, Ukraine increased imports of copper and copper products by 2.2 times compared to 2022 – up to $140.795 million, while exports decreased by 20.1% to $72.078 million.
In addition, in 2023, Ukraine decreased imports of nickel and products by 74.2% compared to 2022, to $15.391 million, and increased imports of aluminum and aluminum products by 7.7%, to $366.463 million.
At the same time, it reduced imports of lead and lead products by 65.2% to $989 thousand, imports of tin and tin products by 23% to $2.728 million, but increased imports of zinc and zinc products by 18.8% to $45.966 million.
Exports of aluminum and aluminum products last year increased by 0.7% compared to 2022 to $97.616 million, lead and lead products increased by 23.5% to $14.778 million, and nickel and nickel products amounted to $532 thousand, while in 2022 it was $1.268 million.
In 2023, the company exported $130 thousand worth of zinc, compared to $1.331 million in 2022. Exports of tin and tin products amounted to $159 thousand against $424 thousand in 2022.
In 2022, Ukrainian enterprises reduced imports of copper and copper products in value terms by 64.3% compared to the previous year to $65.370 million, while their exports decreased by 56.3% to $90.245 million.
In addition, in 2022, Ukraine reduced imports of nickel and nickel products by 49.9% compared to 2021, to $59.754 million, and aluminum and aluminum products by 33.4%, to $340.398 million. At the same time, it reduced imports of lead and lead products by 66.6%, to $2.839 million.
Imports of tin and tin products fell by 33.5% to $3.312 million, while imports of zinc and zinc products decreased by 58.7% to $38.690 million.
In 2022, exports of aluminum and aluminum products decreased by 42.7% compared to 2021, to $96.972 million, lead and lead products – by 68.7%, to $11.970 million, and nickel and nickel products – by 73.9%, to $1.268 million.
Zinc exports in 2022 amounted to $1.331 million, while in 2021 they amounted to $550 thousand. Exports of tin and products in 2022 amounted to $424 thousand, compared to $346 thousand in the previous year.
In April, Ukraine increased its total foreign trade in dairy products by 10.7% compared to March to $41.4 million and by 20% compared to February, the press service of the Union of Dairy Enterprises of Ukraine (UDEP) reported.
According to the report, exports of dairy products were 17.8% higher compared to March, amounting to $17.1 million, and 11% higher compared to February, up to $15.4 million.
At the same time, import volumes increased by 6.2% compared to March and amounted to $24.3 million, which is 27.4% higher than in February, when it was recorded at $19.1 million.
Experts pointed out that imports in April were 1.43 times higher than exports. In March, this figure was 1.58 times higher than in February, in February – 1.24 times higher than in January, in January – 1.93 times higher than in December.
“In April 2024, the situation with exports of dairy products improved – they were exported for $ 17.1 million – the last time such volumes were recorded in June 2023. However, import volumes continued to grow – up to $ 24.3 million, which corresponds to the level of January-2024 (imports have been growing for the 2nd month in a row),” the UMPU stated.
The exports of sunflower oil from Ukraine in September-April of 2023-2024 marketing year (MY) totaled over 4.4 mln tonnes, up 17% compared to the same period of the previous season, and became the second largest export volume in the history after 2019-2020 MY, when the exports reached 4.49 mln tonnes in the same period, APK-Inform news agency reported.
“The demand for this product in the current season from the key global importers was boosted by the more attractive price of sunflower oil compared to other vegetable oils, which resulted in the active increase of sunflower processing by the Ukrainian plants,” the analysts explained.
They also pointed out that an important factor is ensuring relatively stable shipments of oil by sea.
The agency’s experts reminded that they estimated the export of sunflower oil for the season-2023/24 at 5.6 mln tonnes (+4% compared to April estimates; -1% compared to 2022-2023 MY). However, given that about 79% of the forecast has already been exported, a significant decline in monthly shipments is expected by the end of the season.
“The decrease of the exports of the product in May-August of the current season may be due to the decrease of sunflower crushing amid the depletion of the stocks, which are estimated as the minimum for the last three seasons in the whole country as of the beginning of May”, – summarized APK-Inform.
International grain trader Qortia AG (Switzerland) has resumed grain shipments from Ukraine’s deepwater ports, the company reported on Linkedin.
According to the report, the company sent the vessel Bereket M (Panama flag) with a cargo of 21.5 thousand tons of Ukrainian corn from Pivdennyi port to Turkey.
“Bereket M became the first vessel this year that Qortia AG loaded exclusively by its own resources in a deep-water Ukrainian port. Since the company’s establishment, we have been actively shipping to Ukraine from deep water for six years. However, after the Russian invasion, we focused mainly on the development of river transportation and transshipment in the ports of the Danube cluster, where the company’s share reached 15%,” the statement said.
Qortia AG is a Swiss agri-trading and logistics company headquartered in Switzerland. It specializes in the purchase and export of grains (wheat, corn, soybeans, barley, etc.), oilseeds, and processed products. The Ukrainian representative office is located in Odesa. Its owners are Konstantin Kuflyk, Dmitry Yandovsky, and Andrey Vitryak.
Bereket M is a bulk carrier flying the flag of Panama. Its length (LOA) is 154.38 meters and its beam is 26 meters.
In the third quarter of fiscal year 2024, Kernel processed 816 thousand tons of sunflower seeds, up 10% year-on-year.
According to the company’s announcement on the Warsaw Stock Exchange on Tuesday, six crushing plants of the agricultural holding operated at almost full capacity, while two plants were idle due to the proximity to the Russian border and the war zone.
In addition, at the end of February, Kernel started commissioning the Starokonstantinovka oilseed processing plant in Khmelnytsky region. At the time of writing, the plant has reached over 90% of its processing capacity at the commissioning stage. The plant is expected to be fully operational by May 2024 and reach its maximum processing capacity of 1 million tons of sunflower seeds annually.
At the same time, sales of sunflower oil in January-March 2024 increased by 44% year-on-year to 394 thsd tonnes, totaling 1,103 thsd tonnes in 9M2024.
Sales of bottled sunflower oil in the third quarter of FY2024 amounted to 5% of total sales (19 thousand tons).
Kernel emphasized that the volume of loading of the group’s granaries in the third quarter of fiscal year 2024 was at a seasonally low level – 254 thousand tons, which amounted to 2.7 million tons for 9 months of fiscal year 2024, which corresponds to the same period last year.
The export terminal’s transshipment volume for the reporting period increased to 2,464 thsd tonnes of grain, sunflower oil and meal, which showed a 2.3-fold increase. This was driven by consistent export activity via the Black Sea, increased volumes of sunflower oil produced, transshipment through port terminals acquired earlier in the season, along with the provision of transshipment services to third parties.
Despite the high transshipment volumes of the terminals, the volume of grain exports from Ukraine in January-March amounted to 1.877 thousand tons, which is 2.3 times more than in the same period last year, the company stated.
Before the war, Kernel Agro Holding was the world’s leading producer of sunflower oil (approximately 7% of global production) and its exports (approximately 12%). It is one of the largest producers and sellers of bottled oil in Ukraine. In addition, it is engaged in the cultivation and sale of agricultural products.
Kernel’s net profit for FY2023 amounted to $299 million, while the company ended the previous year with a net loss of $41 million. The agricultural holding’s revenue for FY2023 decreased by 35% to $3.455 billion, but EBITDA increased 2.5 times to $544 million.
In the first half of FY2024, Kernel’s net profit fell 3.6 times compared to the first half of FY2023, to $102 million, and EBITDA halved to $223 million, with revenue down 16% to $1.59 billion.
