Turkey Pig iron Imports Rise in March’18

Pig iron Imports in Turkey rise sharply by 90% M-o-M in Mar’18, the recent released data by Turkey’s custom showed.

The nation has imported about 158,401 MT Pig iron in Mar’18, as against 82,959 MT in Feb’18.

The key factor behind surge in Turkey’s pig iron imports assessed higher scrap prices globally over less availability of bulk cargoes. As per SteelMint’s assessment during Feb-Mar 2018, the imported scrap offers in Turkey rose by about USD 30/MT.

Further, in the first three months of CY18 (Jan-Mar), the data shows about 423,914 MT Pig iron imports rise by more that 100% against 209,767 MT in the same preceding CY17.

During March 2018, the largest exporter of Pig iron to Turkey was Russia- 87,119 MT & Brazil at 43,296 MT. Similarly, in the total Pig iron imports during 2018 (Jan-Mar), the major sellers of Pig iron to Turkey was – Russia (58.76%), Ukraine (25.50%), Brazil (12.35%), South Korea (2.12%) & Germany (1.26%).

The crude steel output in Turkey also rise by 8.65% Y-o-Y & stood at 9,539,859 MT during Jan-Mar’18 against same preceding last year to 8,780,396 MT.

Trade Key Updates

1. In the month of March 2018, Turkey imported approximately 1,113,381 MT of iron ore, which is up by around thrice against 388,444 MT in February’18. And the major imports were done from Brazil, Australia, Canada, Sweden & South Korea.

2. The global export offers for steel grade Pig Iron are assessed at USD 360-365/MT FoB India, USD 375-390/MT FoB Russia & USD 390-410/MT CNF Italy (Our last assessment as on 9th May).

3. Substitutes like Scrap imports slightly fall from 1.85 MnT in Feb’18 to 1.83 MnT in Mar’18 despite high prices

4. The monthly average import price for USA HMS (80:20) moved up to USD 370/MT, CFR in Mar’18 as against USD 355/MT in Feb’18.

Top Load Country in Jan-Mar’18 (Scrap & Pig Iron )

Quantity in MnT
Sources: SteelMint Stats.