According to GMK Center calculations based on State Customs Service data, in January-April 2026, Ukraine's mining industry reduced iron ore exports by 30.3% compared to the same period last year, falling to 7.77 million tons. Simultaneously, foreign exchange revenue declined to $612.9 million, marking a 31.4% drop year-on-year. This dynamics indicates weakening external demand and persistent pressure on the raw material segment of the mining and metallurgical complex.
Export Volumes and Structure of Key Directions
China traditionally remains the largest consumer of Ukrainian iron ore. For January-April, supplies in this direction amounted to 3.72 million tons, which is 38% less than in the same period of 2025. Exports to Slovakia reached 1.29 million tons, a decrease of 17.8%, while 980.92 thousand tons were shipped to Poland, down 36.3% in annual terms.
In April 2026 alone, Ukraine exported 2.16 million tons of iron ore raw materials. This is 5.9% less than in March and 18.5% lower than the April 2025 figure. Monthly export revenue totaled $175.57 million, representing a 1% decline month-on-month and a 14.4% drop year-on-year.
Regarding April's primary destinations, 1.16 million tons of raw materials were shipped to China, 322.29 thousand tons to Slovakia, and 229.35 thousand tons to Poland. The deepest decline among these markets was recorded in the Polish direction, where the reduction reached 40.3% year-on-year. For Ukrainian producers, this necessitates more flexible management of sales, contracts, and logistics routes.
Impact on Metallurgy and Solutions from winox.ua
The reduction in iron ore exports is a critical indicator for the entire metallurgical production chain—from raw material extraction to rolled products and further metal processing. When external demand weakens, the market reacts more quickly to price fluctuations, changes in plant utilization, and revisions of purchasing strategies by industrial consumers. For B2B companies, this means a need to plan supplies more precisely and hedge production risks.
In such conditions, the reliability of the metal product procurement channel becomes especially important. The winox.ua company works with industrial customers in the market of rolled metal, stainless steel, and non-ferrous metals, ensuring predictable supplies for manufacturing and service enterprises. Amidst raw material market volatility, this allows businesses to minimize operational pauses and maintain stability in contract fulfillment.
For enterprises dependent on the rhythmic supply of metal, not only price but also confirmed quality, availability, and shipping deadlines become vital. Therefore, winox.ua focuses on working with verified manufacturers and supplying certified products that meet current industrial requirements. This approach is particularly relevant during periods when commodity markets demonstrate a downturn and increased uncertainty.
What the 2026 Market Trend Shows
Current data continues a trend that was noticeable previously. By the end of 2025, Ukraine had already reduced iron ore exports by 8% compared to 2024—to 30.99 million tons—even though China maintained its status as the primary sales market. This indicates that the current drop in 2026 is systemic rather than situational.
The market is simultaneously affected by several factors: the state of global steel demand, price environment, transport constraints, and the structure of consumption in importing countries. For the Ukrainian mining and metallurgical complex, this creates additional pressure on export revenue and production planning. Meanwhile, for related segments, including the rolled metal and industrial supply market, this is a signal to closely monitor the balance between inventory, procurement, and long-term contracts.
Key iron ore producers in Ukraine include Ingulets GOK, Kryvyi Rih Iron Ore Plant, Poltava GOK, Yeristovo GOK, Northern GOK, Central GOK, Southern GOK, ArcelorMittal Kryvyi Rih, Sukha Balka, and Rudomain. Their future results will largely depend on the recovery of external demand and the stabilization of export logistics. These factors will determine the industry's dynamics in the coming months.