Ukraine – The Federation of Metal Manufacturers of Ukraine has written to the government asking it to ‘revise’ ferrous scrap export limits in the second half of 2015, the Kyiv Post has reported. In its letter, the trade association refers to ‘a major shortage’ of scrap metal on the Ukrainian market.
The federation has reached out to economic development and trade minister Aivaras Abromavicius, warning of a ‘threat’ of stoppages at some mining and metal companies. An estimated 32 million tonnes of steel is produced in Ukraine on an annual basis, although ongoing unrest in the country saw this drop to 27 million tonnes last year.
In January-June this year, Ukraine exported US$ 4.296 billion worth of ferrous metals – a 41% drop year on year, according to State Fiscal Services of Ukraine. Imports, on the other hand, fell by roughly 51%. The country’s non-ferrous imports and exports were also down during the same period. For example, the value of aluminium imports totalled US$ 124.48 million (down 30.6%) while exports were at US$ 59.42 million (down 7%)
Would you like to share any interesting developments or article ideas with us? Don't hesitate to contact us.