The United States accounted for the bulk of Ukrainian product consumption
According to data for January–March 2026, Ukraine’s steelmakers increased exports of merchant pig iron by 0.6% compared to the same period in 2025, reaching 456,630 metric tons. Compared to the previous quarter, volumes fell by 21.2%. This is evidenced by calculations by the GMK Center based on data from the State Customs Service.
During the period, 422,440 metric tons of pig iron were shipped to the U.S., up 17.2% year-on-year; 26,500 metric tons to Italy (-59.6% year-on-year); and 5,870 metric tons to Poland (-47.2% year-on-year).
In March, product shipments fell by 13.3% month-on-month and 44% year-on-year to 168,490 tons. 164,400 tons of pig iron were shipped to the U.S. market (-7.2% m/m; -32.9% y/y), and 3,600 tons to Poland (+649% m/m; +4.3% y/y). No products were shipped to Italy last month.
Revenue from pig iron exports for the first three months amounted to $170.71 million, down 4.8% year-on-year and 19.4% quarter-on-quarter. In March, the figure fell by 7% month-on-month and 44.9% year-on-year, to $65.48 million.
As a reminder, in 2025, Ukraine’s steelmakers increased exports of commercial pig iron by 53.5% compared to the same period in 2024, reaching 1.98 million tons. Revenue from pig iron exports for the year totaled 759.88 million, a 51.9% year-on-year increase.
During the period, 1.33 million tons of pig iron were shipped to the U.S., a 41.6% year-on-year increase; to Italy – 416,310 tons (+346.3% year-on-year); to Poland – 61,370 tons (-2.7% year-on-year); and to the Netherlands – 52,030 tons.
In the fourth quarter, pig iron exports rose by 35.7% compared to the same period in 2024 and by 11.9% compared to the previous quarter, reaching 579,470 tons. This is the highest quarterly figure since the start of the full-scale invasion.