- Export volumes plunge 78% for full year 2024
- Power costs, unstable energy supply key threats
GMK: Ukrainian ferro alloy producers exported 276,800 tonnes (t) of products in the first quarter of 2025 (January-March) — a 52% increase q-o-q. This sharp rise reflected a recovery following the prolonged shutdown of major plants from autumn 2023 through April-May, 2024. A year earlier, Q1 exports stood at just 7,000 t due to the same production downtime, according to GMK Center data sourced from the State Customs Service.
Key export destinations: Algeria led import volumes with 103,400 t, followed by Poland with 85,000 t, and Italy with 39,300 t. In March 2025 alone, overall exports fell by 21.5% m-o-m to 85,100 t. Algeria increased purchases by 44.3% and Poland by 3.7 times. Italy did not receive any shipments last month.
Revenue growth despite monthly dip: Export revenues reached $29.54 million in Q12025, significantly up from $2.42 million in the same period last year. However, March revenues fell 12% m-o-m to $9.76 million.
Long-term decline in annual exports: Despite the quarterly recovery, full-year 2024 exports fell 77.5% y-o-y to 773,200 t. This compares to 3,441,700 t in 2023 and 6,685,400 t in 2021. Key buyers last year included Poland, Turkiye and Italy.
Outlook
Although export activity has picked up, the industry faces ongoing challenges. According to the Ukranian Felloalloys Association (UkrFa) Executive Director, Sergiy Kudryavtsev, high electricity costs and unstable energy supply are the biggest threats in 2025. The overall sentiment remains cautious amid market uncertainty.
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