Ukrainian iron ore concentrate output rises in October

Ukrainian production of iron ore concentrate edged up in October on the month and the year, but lower domestic consumption dented output of agglomerate and iron ore pellets, data from state-controlled metals and mining association Ukrmetallurgprom and Ukraine’s fiscal service show.

Ukraine produced 5.15mn t of iron ore concentrate last month, up by 8pc compared with September and almost 1pc from October 2016. The rise followed an increase in production of run-of-mine iron ore (see table).

Exports of Ukrainian iron ore products totalled 2.97mn t in October, flat on the previous month, but around 4pc lower than a year earlier. Export shipments as a result declined by 3.1pc year on year to 31.72mn t in January–October, slightly improving from a 3.8pc drop in January–September.

Revenue generated by these exports increased by 53.4pc over the period to $2.18bn despite a fall in 10-month export tonnage, reflecting higher prices globally this year.

China remained the largest recipient of Ukrainian iron ore, taking 27.6pc of total deliveries over the January–October, followed by Slovakia and Poland, which received 11.8pc and 10.8pc, respectively.

Domestic production of agglomerate and pellets decreased last month and in January-October as a whole, while domestic shipments of iron ore products fell by 8.9pc on the year to 21.6mn t in the first 10 months of this year. But domestic shipments of iron ore products remained flat on a year earlier at 2.5mn t in October, up by 6.4pc from September.

Ukraine has not imported any iron ore for seven months, reflecting lower domestic requirements because of disruption and the seizure of steelmaking facilities in the Donetsk and Luhansk regions in the east.

Imports of hot briquetted iron (HBI) and direct reduced iron (DRI) slumped by 95pc year on year to just 2,167t in January-October, all of which originated in Russia. The value of the HBI and DRI imports over the period was $580,000, down by 93pc from $7.69mn a year earlier.

Ukrainian iron ore output t
  Oct 17 Sep 17 ±% Oct/Sep 17 Oct 16 ±% Oct 17/16 Jan-Oct 17 Jan-Oct 16 ±% Jan-Oct 17/16
Unprocessed iron ore 6,172,100 5,763,000 7.1 5,948,900 3.8 60,807,000 62,844,000 -3.2
Iron ore concetrate 5,152,200 4,770,000 8.0 5,111,900 0.8 50,241,000 52,417,000 -4.2
Agglomerate 2,684,600 2,727,000 -1.6 2,972,900 -9.7 25,229,000 28,428,000 -11.3
Pellets 1,779,400 1,887,000 -5.7 1,937,500 -8.2 16,742,000 18,677,000 -10.4
— Ukrmetallurgprom

Source: Argus

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