Russia's iron ore exports to the EU decreased

Russia's iron ore exports to the EU countries decreased by 4 times compared to last year and amounted to 2.9 million tons in 2022.

The shipment of iron ore concentrate decreased by a factor of 8.5 compared to 2021 to 200 thousand tons, and the shipment of pellets decreased by a factor of 3.7 to 2.7 million tons.

Total exports of iron ore products from the Russian Federation to the EU decreased by 39% compared to the previous year to 13.6 million tons in 2022.

Meanwhile, Russian origin iron ore products did not decrease under the sanctions of the EU countries, as ore consumers in Europe independently refused to purchase raw materials from the Russian Federation.

In addition, the decrease in supply is the 1st of 2022 due to rising energy prices. and in the 3rd quarter, it was affected by the closure of many metallurgical enterprises in European countries.