Ukraine’s bauxite import amidst geopolitical crises elevates with time. But why?

In 2024, Ukraine heightened its aluminium ore and bauxite concentrate import Y-o-Y by 46.8 per cent in physical terms during the time period of January to October. The cumulative imports accounted for this year towered at a whopping 19,842 thousand tonnes.

As stated in the statistical report released by the State Customs Service (SCS), bauxite import in monetary terms has increased by 50.9 per cent (USD 2.681 million) in the aforementioned time span.

This year's imports can be attributed to Turkey, which has supplied 70.31 per cent of supplies in monetary terms and China, which has accounted for 26.67 per cent.

Ukraine has not re-exported bauxite from January to October 2024 as opposed to the same period in 2023. As noted in 2022, Ukraine lowered imports of both substances in physical terms by 81.5 per cent compared to the prior year – to 945.396 thousand tonnes.

Bauxite imports in monetary terms decreased by 79.6 per cent to USD 48.166 million. Imports were predominantly from Guinea (58.90 per cent of supplies in monetary terms), Brazil (27.19 per cent) and Ghana (7.48 per cent). In 2023, Ukraine imported 19,830 thousand tonnes of bauxite worth USD 2,360 million.

Mykolaiv Alumina Plant (MAP) imports bauxite to Ukraine. Bauxite is an aluminium ore used as a raw material to produce alumina, which in turn is used to produce primary aluminium. They are also used as fluxes in ferrous metallurgy.

Here, it is to be noted that in January-July this year, Ukraine boosted imports of aluminium ore and bauxite concentrate in physical terms by 5 per cent as compared to the same period last year, with a total import of 6,772 thousand tonnes. Meanwhile, the imports in the last three months have pulled the number to this high. The country is in a geopolitical crises. The Mykolaiv alumina plant remains shut and, yet, the import is gaining figures by day. Thus, the utilisation of the substances imported from other countries remains a mystery and point of curiosity to the world.

Information source: https://open4business.com.ua/

Edited By: Pratyusha Chatterjee

Source: https://www.alcircle.com/news/ukraines-bauxite-import-amidst-geopolitical-crises-elevates-with-time-but-why-112560