#Iron Ore

Minvest’s COO Alexander Myronenko stated that the financial resilience buffer of Ukraine’s steel industry has been exhausted: only two MPPs of the group are operating at 50% capacity, and production costs rose by 30% over the year due to the port blockade and logistics.

Railway export of iron ore could shrink by 30–40% due to shelling of seaports. Ferrexpo and Yuzhny GOK have suspended mining, while metallurgical production in July fell by a third.

Attacks on ports have paralyzed Ukrainian ore exports: plants are shutting down, and budget losses reach $700 million annually. The sea channel, which provided half of the supplies, is blocked, while alternative routes have proven unprofitable. 🚢📉