The tenth largest importer of Iron ore, Turkey has recorded decline in quarterly iron ore imports in quarter ending Mar’18. The imports recorded at 2.43 MnT in Q1 CY’18, down 11% as against 2.74 MnT in Q4 CY’17. The Y-o-Y imports recorded a decline of 24% in first quarter CY’18 as compared to 3.2 MnT in first quarter CY’17.
In Mar’18, Turkey’s iron ore imports recorded at 1.11 MnT, up by around thrice M-o-M as compared to Feb’18 imports at 0.39 MnT. Crude steel output of Turkey jumped 12% to 3.37 MnT in Mar’18 against 3.00 MnT in Feb’18. The increase is attributed to increase in iron ore imports in Mar’18, along with low input costs.
On yearly basis, the imports witnessed marginal decline compared to 1.19 MnT in Mar’17.
The non-agglomerated ore (Lumps and Fines) witnessed reduction of 9% Q-o-Q imports to 1.39 MnT in Q1 CY’18 as against 1.53 MnT in Q4 CY’17. The Y-o-Y imports witnessed a decline of 16% in Q1 CY’18 as against 1.66 MnT in Q1 CY’17.
Agglomerated ore (pellets and concentrates) recorded fall of 14% in quarterly imports to 1.04 MnT for first quarter CY’18 as compared to 1.21 MnT in previous quarter. The Y-o-Y import was down 32% in Q1 CY’18 as compared to Q1 CY’17 at 1.53 MnT.
Country-wise Turkey Iron Ore Imports:
Brazil continued to be the largest exporter of iron ore to Turkey in quarter one CY’18 at 0.87 MnT (down 29% Q-o-Q), contributing 36% share of total Turkey iron ore imports, followed by Sweden 0.4 MnT (stable on quarterly basis) and Canada at 0.34 MnT (up twice Q-o-Q).
Turkey imports from Russia and Ukraine marked significant decline in Q1 CY’18 at 0.23 MnT (down 47%) and 0.08 MnT (down 65%).
In Mar’18, Brazil and Australia marked highest iron ore exporter to Turkey at 0.28 MnT each, followed by Canada at 0.17 MnT (up 70 % M-o-M), Sweden at 0.16 mnT and South Korea at 0.16 MnT. In Mar’18, the country witnessed 57% of imports from Sweden (0.16 MnT), Australia (0.28 MnT), South Korea (0.16 MnT) and Ukraine (0.03 MnT). However, imports from these countries stood nil a month before.
Turkey’s Country wise iron ore imports Q1 CY’18 v/s Q4 CY’17
| Country | Mar’18 | Feb’18 | M-o-M (%) | Q1 CY’18 | Q4 CY’17 | Q-o-Q (%) |
| Brazil | 0.28 | 0.25 | 12% | 0.87 | 1.23 | -29% |
| Sweden | 0.16 | – | 100% | 0.4 | 0.41 | -2% |
| Canada | 0.17 | 0.1 | 70% | 0.34 | 0.17 | 100% |
| Australia | 0.28 | – | 100% | 0.28 | – | 100% |
| Russia | 0.03 | 0.04 | -25% | 0.23 | 0.43 | -47% |
| South Korea | 0.16 | – | 100% | 0.16 | 0.17 | -6% |
| Ukraine | 0.03 | – | 100% | 0.08 | 0.23 | -65% |
| Others | – | – | 0% | 0.07 | 0.1 | -30% |
| Grand Total | 1.11 | 0.39 | 185% | 2.43 | 2.74 | -11% |
Quantity in MnT
Source: Turkey Customs
Provisional Data
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