Turkey: Iron Ore Imports Down 60% Y-o-Y in Feb’18

The tenth largest importer of Iron ore, Turkey has recorded decline in M-o-M iron ore imports in Feb’18. The imports recorded at 0.39 MnT in Feb’18, down 58% as against 0.92 MnT in Jan’18. The Y-o-Y imports recorded a decline of 60% in Feb’18 as against 0.97 MnT in Feb’17.

Turkey’s crude steel output fell slightly to 2.99 MnT in Feb’18, compared to 3.17 MnT in Jan’18. Although iron ore imports by the country have come down, ferrous scrap import volumes to the country have increased by 10% M-o-M to 1.85 MnT.

For the duration Jan-Feb’18, the country recorded downfall of 35% in imports at 1.31 MnT as compared to 2.01 MnT Same period last year (Jan-Feb’17). Brazil stood the largest exporter for current year Jan-Feb at 0.59 MnT, followed by Sweden at 0.24 MnT and Russia at 0.21 MnT.

The non-agglomerated ore (Lumps and Fines) witnessed reduction of 39% M-o-M imports to 0.25 MnT in Feb’18 as against 0.41 MnT in Jan’18. The Y-o-Y imports witnessed a decline of 51% in Feb’18 as against 0.51 MnT in Feb’17.

Agglomerated ore (pellets and concentrates) recorded fall of 73% in monthly imports at 0.14 MnT for Feb’18 as compared to 0.51 MnT in Jan’18. The Y-o-Y import was down 70% in Feb’18 as compared to Feb’17 which stood at 0.46 MnT.

Country-wise Turkey Iron Ore Imports:
Brazil continued to be the largest exporter of iron ore to Turkey in Feb’18 at 0.25 MnT (down 26% M-o-M), contributing 64% share of total Turkey iron ore imports, followed by Canada 0.1 MnT (up 43% M-o-M) and Russia at 0.04 MnT (down 76% M-o-M).
Turkey recorded nil imports from Sweden, Ukraine and Finland in Feb’18, which cumulatively contributed 36% of total imports in Jan’18.

Turkey’s Country wise iron ore imports Feb’18 v/s Jan’18

Quantity in MnT
Source: Turkey Customs
Provisional Data