Business news from Ukraine

UKRAINIAN ENTERPRISES IN JAN-MAY 2019 DECREASE EXPORTS OF FERROUS SCRAP METAL BY 85%

Ukrainian enterprises in January-May 2019 decreased exports of ferrous scrap metal by 85.7% compared to January-May 2018, to 36,515 tonnes (250,984 tonnes in January-May 2018). According to customs statistics released by the State Fiscal Service of Ukraine, exports of scrap metal in monetary terms fell by 88.1%, to $9.983 million ($83.484 million a year ago).
Some 8,086 tonnes of scrap metal was exported in May, 8,791 tonnes in April, 8,246 in March, 8,252 tonnes in February and 3,140 tonnes in January.
At the same time, in January-May 2019, the country increased imports of scrap metal in kind by 38.4% compared to January-May 2018, to 28,710 tonnes. Imports in monetary terms decreased 10.9%, to $14.792 million.
Imports of scrap metal in January-May 2019 arrived mainly from Russia (49.09% of deliveries in monetary terms), Turkey (43.71%), and South Korea (3.13%); and major exports were shipped to Turkey (88.76%), the Netherlands (6.26%) and Germany (3.42%).
Ukrainian metal companies in January-May 2018 and January-May 2019 did not import ferrous products obtained by direct reduction of iron ore (HS code 7203) – hot briquetted iron (HBI), which is a substitute for pig iron and scrap metal.
As reported, Ukrainian enterprises in 2018 decreased exports of ferrous scrap metal by 33% compared to 2017, to 327,547 tonnes. Exports of scrap metal in monetary terms fell by 13.3%, to $105.646 million.

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