Bloomberg has reported that Ukraine wants to expand the Istanbul grain export agreements and add steel supplies to them to support the country’s economy. Ukraine’s Economy Minister Ms Yulia Svyridenko has called for the development of the agreement concluded in July 2022, which opened Ukrainian Black Sea ports blocked by Russian forces. Ms Svyridenko said at the World Economic Forum in Davos “It is important for us to add more ports, increase the volume of exports. We will focus on building more storage facilities for agricultural commodities, but what we need to do from a strategic point of view is to open sea ports. It is not only about agriculture, but also about steel.”The Black Sea was formerly the principal transport route for Ukraine’s steel exports. Currently, only the ports of the Odessa region are able to connect to the shipment of metals. The main facilities for the export of metallurgical products are located in the ports of Odessa, Chornomorsk and Pivdennyi. Half of the world has already joined the negotiations on the continuation of the Istanbul Agreements. Currently, only the ports of the Odessa region are able to connect to the shipment of metals. As a result of the port blockages, Ukrainian steelmakers have had to use other options to deliver their products. Some sent goods to Europe by truck or rail, as well as using shipments from Black Sea ports in Romania and Bulgaria, and from Baltic Sea ports in Poland.In 2022, the Ukrainian steel industry and exports were hit hard by the Russian invasion, which led to the destruction of almost 40% of Ukrainian steel capacities and hit export transportation hard due to port blockades. According to customs, carbon semi-finished steel exports totaled 1.9 million tonnes in 2022, down by 72% YoY while semis exports came to 6.8 million tonnes, down by 10% YoY. Pig iron exports fell 59% to 1.3 million tonnesSimilarly, Ukraine’s iron ore exports shrank by 46% YoY in 2022 to 23.9 million tonnes and ferroalloy exports fell by 48% YoY to 349,560 tonnes
Bloomberg has reported that Ukraine wants to expand the Istanbul grain export agreements and add steel supplies to them to support the country’s economy. Ukraine’s Economy Minister Ms Yulia Svyridenko has called for the development of the agreement concluded in July 2022, which opened Ukrainian Black Sea ports blocked by Russian forces. Ms Svyridenko said at the World Economic Forum in Davos “It is important for us to add more ports, increase the volume of exports. We will focus on building more storage facilities for agricultural commodities, but what we need to do from a strategic point of view is to open sea ports. It is not only about agriculture, but also about steel.”The Black Sea was formerly the principal transport route for Ukraine’s steel exports. Currently, only the ports of the Odessa region are able to connect to the shipment of metals. The main facilities for the export of metallurgical products are located in the ports of Odessa, Chornomorsk and Pivdennyi. Half of the world has already joined the negotiations on the continuation of the Istanbul Agreements. Currently, only the ports of the Odessa region are able to connect to the shipment of metals. As a result of the port blockages, Ukrainian steelmakers have had to use other options to deliver their products. Some sent goods to Europe by truck or rail, as well as using shipments from Black Sea ports in Romania and Bulgaria, and from Baltic Sea ports in Poland.In 2022, the Ukrainian steel industry and exports were hit hard by the Russian invasion, which led to the destruction of almost 40% of Ukrainian steel capacities and hit export transportation hard due to port blockades. According to customs, carbon semi-finished steel exports totaled 1.9 million tonnes in 2022, down by 72% YoY while semis exports came to 6.8 million tonnes, down by 10% YoY. Pig iron exports fell 59% to 1.3 million tonnesSimilarly, Ukraine’s iron ore exports shrank by 46% YoY in 2022 to 23.9 million tonnes and ferroalloy exports fell by 48% YoY to 349,560 tonnes
