Turkey Pig Iron Imports Decline by 7% in Oct 2017

As per the Turkey’s custom, the nation has imported about 130,000 MT Pig iron in Oct’17, decline by 7.14 % M-o-M against 140,000 MT in Sept’17. The pig iron imports have decline due to rising Scrap imports in the country.

Further, in the first 10 months of CY17 (Jan-Oct), the data shows about 0.84 MnT Pig iron imports decline by 9.67% against 0.93 MnT in the same preceding CY2016.

As per the data available with SteelMint, the pig iron imports decline owing to the rising scrap imports in the nation which stood at 2.14 MnT in Oct’17 against 2.01 MnT in Sept’17 & 1.23 MnT in Oct’16. Scrap imports in the nation was also 4 years high in Oct’17.

During October 2017, the largest exporter of Pig iron to Turkey was Russia- 80,000 MT & Brazil at 40,000 MT. Similarly, in the total Pig iron imports during 2017 (Jan-Oct’17), the major sellers of Pig iron to Turkey was – Russia (63.72%), Ukraine (18.99%), Germany (5.95%) & Brazil (5.70%).

The crude steel output in Turkey also rise by 13% Y-o-Y & stood at 30.95 MnT during Jan-Oct’17 against same preceding last year to 27.42 MnT .

Trade Key Updates

1. In the month of October, 2017, Turkey imported approximately 0.73 MnT of iron ore, which is down by 9.87 % against 0.81 MnT in September’17. And the major imports were done from Brazil, Russia & Sweden.

2. The global export offers for steel grade Pig Iron are assessed at USD 345-350/MT FoB India, USD 330-340/MT FoB Russia & USD 355-360/MT CNF Italy (Our last assessment as on 5th Dec).

Top load Country (Jan-Oct’17), Pig Iron

 Quantity in MnT
Sources: SteelMint Stats