Uranium ores and concentrates market in Eastern Europe (including Northern Asia)

Earlier Report Observations

The Ukrainian uranium ore market began the period with growth in 2018, reaching a volume of 3 728 t. This increase was directly driven by a significant 41% expansion in uranium concentrate production and an 11% rise in ore extraction at the state-owned Eastern Mining and Processing Plant (DP "Skhidnyi GZK"). In 2019, the market volume stabilized at 3 745 t, a minimal increase, as the same plant reported a contraction in its operations, with ore mining down 20.5% and concentrate output falling 25% during the first seven months of the year.

A steady downward trend followed, with the market volume decreasing to 3 619 t in 2020, 3 117 t in 2021, and 2 629 t in 2022. The state enterprise continued its activities during this period but faced economic and technological challenges that contributed to the declining output.

In the later years of the period, the Ukrainian government approved the "Nuclear Fuel of Ukraine" state program to develop domestic uranium production, leveraging the country's substantial ore reserves. The legislative framework requires special permits for all uranium trade, while global factors such as rising uranium prices and international supply restrictions have reshaped the market environment.

Production uranium ores and concentrates in Eastern Europe (including Northern Asia)

In kind, 2017-2020, t

Top producers of uranium ores and concentrates, 2017-2020

World map of production of uranium ores and concentrates, 2017-2020

Eastern Europe (including Northern Asia) saw its uranium ores and concentrates production volume decline after two years of growth. In 2019, production reached its peak at 3 745 tonnes. However, in 2020, output fell to 3 619 tonnes, marking a 3.4% decrease from the previous year. The largest annual increase occurred in 2018, when production rose by 1.2%.

Annual dynamics of production in Eastern Europe (including Northern Asia) in kind, 2017-2020, t

Exports uranium ores and concentrates from Eastern Europe (including Northern Asia)

Exports in kind, kg

Annual dynamics of product's exports from Eastern Europe (including Northern Asia) in kind, 2017-2020, kg

From 2017 to 2020, the United States accounted for virtually all exports in kind of uranium ores and concentrates from Eastern Europe (including Northern Asia), representing 100.0% of total flows during this period.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Eastern Europe (including Northern Asia) in kind, 2017-2020

Exports in value, K $ US

Annual dynamics of product's exports from Eastern Europe (including Northern Asia) in value, 2017-2020, K $ US

Throughout 2017–2020, the United States dominated exports in value terms of uranium ores and concentrates from Eastern Europe (including Northern Asia), consistently making up 100.0% of total flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Eastern Europe (including Northern Asia) in value, 2017-2020

Imports uranium ores and concentrates to Eastern Europe (including Northern Asia)

Imports in kind, kg

Eastern Europe (including Northern Asia) imported 50 kg of uranium ores and concentrates in 2020, which represented a sharp year-over-year decline of 99.8%. Over the entire 2017–2020 period, imports dropped by 99.9%, with a compound annual growth rate (CAGR) of 89.5%.

Annual dynamics of product's imports to Eastern Europe (including Northern Asia) in kind, 2017-2020, kg

From 2017 to 2020, Italy, Estonia, and Niger were the leading sources for imports in kind of uranium ores and concentrates to Eastern Europe (including Northern Asia). Italy accounted for 50.9% of imports, Estonia for 3.2%, and Niger for 1.9%, together representing 56.0% of total flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Eastern Europe (including Northern Asia) in kind, 2017-2020

Imports in value, K $ US

The market showed an unstable trend over the period. Import levels varied significantly, with a 245-fold difference between the high in 2017 and the low in 2018. In 2020, import volumes for uranium ores and concentrates in Eastern Europe (including Northern Asia) amounted to 3.0 thousand US dollars, reflecting a dramatic 99.6% decrease from the previous year.

Annual dynamics of product's imports to Eastern Europe (including Northern Asia) in value, 2017-2020, K $ US

Between 2017 and 2020, Germany was the primary and nearly exclusive market for imports in value terms of uranium ores and concentrates to Eastern Europe (including Northern Asia), accounting for 98.0% of total flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Eastern Europe (including Northern Asia) in value, 2017-2020