Ukrainian ferroalloy producers record low export volumes for the second month in a row

In January-February, Ukrainian ferroalloy producers shipped 0.54 thousand tonnes of products overseas. In February, only 0.3 thousand tonnes of ferroalloys were shipped abroad, which is 29.8% more than the previous month but 99.3% less than in February 2023.
Export revenues of ferroalloy companies in February totalled $951,000, up 10.3% from January, but down 97.2% from last year.

Total ferroalloy export volume in January-February 2024 decreased to 0.54 thousand tonnes from 96.83 thousand tonnes in the same period last year (99.4% y/y). Export revenue fell to $ 1.81 million compared to $ 85.23 million last year (97.9% y/y).

Most of the products were sent to Poland, which accounted for 70.1% of the total export volume in monetary terms. In addition, 13.8 per cent were exported to Uzbekistan and 6.5 per cent to the Netherlands. It is noted that the decline in export volumes started from August last year and is explained by the complete shutdown of Ukraine's ferroalloy industry from November 2023. This is due to a number of reasons, including proximity to the war front, falling ferroalloy prices, high production costs and staffing problems due to mobilisation.