Pig iron Imports in Turkey decline by 43% M-o-M in May’18, the recent released data by Turkey’s custom showed.
The nation has imported about 82,326 MT Pig iron in May’18, as against 136,597 MT in Apr’18. Russia remains the largest exporter to Turkey; however in the month of May’18 , Pig iron imports from Russia decline by 55% & stood at 52,348 MT as against 116,732 MT in April’18. Inline, no major Pig iron imports recorded in May’18 from Brazil, South Korea, Canada & United Kingdom.
The key attributes shows pig iron imports decline with limited demand amid sharp devaluation of Turkish currency Lira against USD.
In the total Pig iron imports during 2018 (Jan-May), the major sellers of Pig iron to Turkey was – Russia (418,180 MT), Ukraine (154,030 MT), Brazil (52,371 MT), Germany (9,254 MT) & South Korea (9,000 MT).
Further, in the first five months of CY18 (Jan-May), the data shows about 642,837 MT Pig iron imports, rise by more than 50% against 301,633 MT in the same preceding CY17.
The crude steel output in Turkey also rise by 4.80% Y-o-Y & stood at 15,817,569 MT during Jan-May’18 against same preceding last year to 15,093,753 MT.
Trade Key Updates
— In the month of May 2018, Turkey imported approximately 1,048,814 MT of iron ore, which is up by 35.65% M-o-M against 773,121 MT in Apr’18. And the major imports were done from Brazil, Sweden, South Korea & Russia.
— The global export offers for steel grade Pig Iron are assessed at USD 380-390/MT FoB India, USD 380-390/MT FoB Black Sea & USD 400-410/MT CNF Italy (Our last assessment as on 5th July).
— Substitutes like Scrap, Turkey imports in May’18 witnessed a fall of 13% M-o-M as against 1,900,820 MT in Apr’18.
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