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In 2025, Ukraine’s iron ore exports may decline by 15% – to 27 million tonnes. This is stated in GMK Center’s article ‘Prospects for the Ukrainian steel industry in 2025’. Low ore prices and rising production costs are among the main reasons for the projected decline. In 2024, the price of iron ore at $95 per tonne was already making exports to China unprofitable. High dollar inflation in Ukraine and rising electricity costs, which account for up to 50% of production costs, further complicate the situation.

Producers face a significant financial burden. For example, one of the leading companies reported an 11% increase in its cost of production in dollars in first half of 2024. Electricity prices & transport problems continue to weigh on the industry.
https://gmk.center/en/news/ukraines-iron...5-in-2025/