Two specialists on the mineral industries of the countries of the former USSR survey current problems confronting producers of ferrous metals in Ukraine and future prospects for domestic production and exports. A series of observations documenting the importance of ferrous metals production to Ukraine's economy is followed by sections describing investment plans and needs in the sector, and the role played by Ukraine within the iron and steel industry of the Soviet Union. The focus then turns to assessment of the current regional and global competitive position of Ukrainian producers for each of the major commodities of the sector-iron ore, manganese ore, ferroalloys, steel, and the products of the machine manufacturing and metal working industries. In conclusion, the paper discusses a potential regional industrial integration strategy analogous to that employed in the United States' Great Lakes/Midwest region, which possesses similar types of iron ore deposits and similar transport cost advantages and metallurgical and manufacturing industries. Journal of Economic Literature, Classification Numbers: F14, L61, L72. 1 table, 26 references.