The conflict in Ukraine is having a significant impact on the global raw materials market


Russia’s attack on Ukraine disrupted deliveries of steel products from both Ukraine and Russia. The Russian attack shocked Europe and Western democracies to such an extent that the EU and the US, in an extraordinary display of unanimity, imposed unprecedented sanctions on Russia. The overall impact of the sanctions will be very difficult to predict.

Since Ukrainian iron ore and steel supplies and Russian steel production are extremely important for the global supply of steel products, further market disruptions are very likely to continue.

Not only has the conflict brought human tragedy to Europe, but it also makes it very difficult to predict the availability, logistics and price of steel and possibly other raw materials. The only thing that seems certain at the moment is that steel product prices will continue to rise.

While the outlook could not be cloudier at the time of writing, we want to act as a trusted partner should and we will inform you as soon as we know more.

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Markku Mattila