Ukraine ups iron ore output and export targets for 2007

In 2007, Ukrainian iron ore producers intend to increase production up to 3.5 million metric tons, a large part of which is to be exported. The favorable state of the international iron ore market allows Ukrainian exporters of this material to expand the geographical structure of their deliveries. Whereas in 2005 the greatest share of Ukrainian iron ore exports were supplied to countries of the ex-Soviet Union and Eastern Europe - in particular Russia, Poland, the Czech Republic, and Hungary, in 2006 Turkey and China significantly increased their imports from Ukraine (to about 500,000 metric tons and 1.4 million metric tons respectively). Meanwhile, Ukrainian iron ore exports to Russia practically ceased in 2006. Judging by developments in 2006, market experts believe that in 2007 the targeted markets for Ukrainian iron ore exports will be those of the European Union - in particular Germany and Italy, the Asian markets - in particular China and India, and also Turkey.