Exports of Ukrainian cast iron came to a complete halt in August
According to figures for January–August 2026, Ukrainian steelmakers reduced their exports of merchant pig iron by 16.4% compared to the same period last year, down to 1.03 million metric tons. In August, no pig iron was exported due to the blockade of ports.
From January through August, 900,600 metric tons of pig iron were shipped to the U.S., down 11% year-over-year; 83,200 metric tons were shipped to Turkey (+88% year-over-year); and 26,500 metric tons to Italy (-77% year-over-year). Revenue from pig iron exports over the eight-month period totaled $413 million.
In August, pig iron exports came to a halt due to the blockade of Black Sea ports. Going forward, this situation could lead to Ukrainian exporters losing their market share.
Source: GMK Center
As a reminder, Russia is destroying Ukraine’s steel industry, eliminating a competitor in the EU market.
Ukraine’s largest steel mill partially shut down following a Russian strike.
The combination of Russian strikes on steel mills, problems with maritime logistics, rising transportation costs, and new EU restrictions could lead to a 30–40% reduction in steel production in Ukraine, and iron ore production by approximately 40%.
