Turkey, the world’s 3rd largest Pig iron importer, has imported about 90,000 MT Pig iron in August 2017, according to trade statistics released by Turkey’s custom.
The nation’s monthly imports for pig iron is almost firm in August 2017, which is consecutively similar against in June’17 & July’17. On the contrary, imports has been moved up to 50% Y-o-Y against 60,000 MT in August’16.
Further, on yearly premises, in first 8 months of CY 2017 (Jan-Aug), the imports are down by 21.12% to 560,000 MT against same preceding last year at 710,000 MT.
Country wise:
Turkey’s pig iron import in Aug’17 were exported by two nations that are – Russia & South Korea at 80,000 MT & 10,000 MT, respectively.
Similarly, in the total Pig Iron imports during 2017 (Jan-Aug’17), the major sellers of pig iron to Turkey was – Russia (61.11%), Ukraine (22%), Germany (7.32%) & India (4.39%).
Key Updates
1. In the month of August 2017, Turkey imported approximately 0.86 MnT of iron ore, which is down by 7.52 % against 0.93 MnT in July’17. And the major imports were done from Brazil, Russia & Sweden.
2. Substitutes like Scrap imports also seems downwards in Tukey approximately 22.77% on monthly basis to 1.56 MnT in August’17 against 2.02 MnT in July’17 as domestic steel prices got shrunk by USD 35-40/MT in last month amid thin margin proportionate.
3. Presently, export offers of basic grade Pig iron are at USD 370-380/MT FoB India & USD 355-360/MT FoB Russia.
Top Load Country – 2017 (Till August)
| Country | Quantity | % Share |
| Russia | 0.35 | 61.11 |
| Ukraine | 0.12 | 22 |
| Germany | 0.04 | 7.32 |
| India | 0.02 | 4.39 |
| South Korea | 0.02 | 3.69 |
| Brazil | 0.01 | 1.48 |
| Grand Total | 0.56 | 100 |
Quantity in MnT
Sources: SteelMint Stats
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