According to data released by the Ukrainian Association of Ore-dressing Enterprises (Ukrrudprom), during the first four months of 2008 some Ukrainian steel producers increased their imports of iron ore, thus leaving stocks of domestic iron ore producers unconsumed.
Accordingly, in the January-April 2008 period total iron ore imports by Ukrainian steel producers reached 1.347 million mt, up 44 percent year on year. Meanwhile, in April alone Ukrainian steelmakers imported 179,000 mt of iron ore.
Alchevsk Iron and Steel Works imported the most iron ore during the period in question, increasing its imports by five times to 645,600 mt. The mill was closely followed by Ilyich Iron and Steel Works of Mariupol, which, though it saw a decrease in foreign deliveries, still consumed 347,000 mt of imported iron ore material. Enakievsk MZ imported 247,600 mt, up 68.9 percent, and Dneprovsky Iron and Steel Works named after F. Dzerzhinsky imported 104,800 mt.
Due to the increase in consumption of imported iron ore by Ukrainian steelmakers, the stocks of the domestic iron ore producers increased considerably. According to Ukrrudprom,
at the beginning of May iron ore stocks within the country amounted to 2.255 million mt.
Concerned by this state of affairs in the domestic iron ore market, the Ministry of Industrial Policy has stated its intention to conduct an investigation into the issue. The first results of the investigation are expected to be known on June 11, 2008.