The metallurgical industry of Ukraine is being stabilized thanks to the work of the maritime corridor
8.04.2024 - 13:43
The stable operation of the Ukrainian maritime corridor supported the revitalization of the transport and metallurgical industries.
This is stated in the Macroeconomic Review of the National Bank for April 2024.
In March, a number of metallurgical enterprises carried out equipment repairs, in particular in view of plans to increase the loading of mining and metallurgical divisions thanks to the improvement of sea logistics.
At the same time, state and private coal-mining enterprises maintained production rates and expanded capacities; new gas production wells were launched.
At the same time, at the end of March, activity in the industry slowed down due to shelling and blackouts.
The NBU noted that the work of seaports of Ukraine continued to support the transport industry. In March, railway cargo transportation continued to grow by 31% y/y and 10% m/m compared to the previous month.
“However, as a result of the shelling at the end of March and the decrease in the stocks of agricultural products, a certain slowdown in sea transportation is expected compared to February,” the National Bank said in a review.
It will be recalled that before the full-scale invasion of Russia into Ukraine, the main volume of export of iron ore raw materials went by sea to China through the ports of Chornomorsk, Odesa and “Pivdennyi”, and only 10% went to Europe.
