Russian iron ore exports decreased by 18% in the first half of 2018

The main export destination for iron ore from Russia was Ukraine.
Recent statistics released by the Russian Customs Committee show a significant decline in iron ore exports across the country during the first six months of 2018. Exports of steelmaking raw materials in the country amounted to 8.804 million tons, which is 17.8% lower compared to exports of 10.710 million tons during the corresponding half-year period in 2017.

The average export price of iron ore from Russia increased by more than 13% year-on-year from USD 72.0 per tonne to USD 81.4 per tonne. However, the total export value fell by 7.1% during the year.

The main export point for iron ore from Russia was Ukraine. Exports to the country amounted to 2.262 million tons, which is 210% more than 729.2 thousand tons in the first half of 2017. Exports to Ukraine averaged USD 90.4 per tonne. In second place was China, which imported 2.023 million tons of iron ore from Russia. Chinese imports were down 15.5% from the previous year. The third largest importer was Turkey with 746,229 tonnes, a slight decrease of 0.5% over the previous year.

There was an increase in imports by Egypt, in line with the increase in steel production in the country.

In contrast, shipments to the Czech Republic fell by more than 98%. Russian exports to Kazakhstan and the Netherlands in the first half of 2018 also significantly decreased by 91.7% and 88%, respectively.