Turkey: Iron Ore Imports Increased 5% in CY'17 Amid Rise in Steel Output

The tenth largest importer of Iron ore, Turkey has witnessed a marginal increase in imports to 10.96 MnT as against 10.42 MnT in CY'16. In CY'17, Turkey imported 4.66 MnT iron ore from Brazil (down 10% Y-o-Y), Sweden at 1.9 MnT (up 27% Y-o-Y), and Russia at 1.52 MnT( down 17% Y-o-Y).

The country reported increase of 13% in its crude steel output in CY17. Output from blast furnaces was 6.75 MnT during Jan-Jul'17, up by 3.75 % Y-o-Y. Marginal rise in blast furnace output could be attributed to reason behind rising iron ore imports to the country.

Turkey recorded significant increase of 51% in imports for Dec'17. The imports recorded at 1.21 MnT, up 51% as against 0.8 MnT in Nov'17. The Y-o-Y imports also depicted increase of 61% in Dec'17 as against 0.75 MnT in Dec'16.

The non-agglomerated ore (Lumps and Fines) imports witnessed a hike of 11% M-o-M to 0.7 MnT in Dec'17 as against 0.63 MnT in Nov'17, while the Y-o-Y imports witnessed an increase of 67% in Dec'17 as against 0.42 MnT in Dec'16.

Agglomerated ore (pellets and concentrates) recorded three-fold increase to 0.51 MnT in Dec'17 as against 0.17 MnT in Nov'17. The Y-o-Y imports were up by 59% Y-o-Y in Dec'17 as compared to Dec'16 which stood at 0.32 MnT.

Country-wise Turkey Iron Ore Imports :

Brazil continued to be the largest exporter of iron ore to Turkey in Dec'17 at 0.61 MnT, contributing 50% of total Turkey imports, followed by Sweden at 0.24 MnT (20% share) and Russia at 0.18 MnT (15% share).

Turkey's Country wise iron ore imports Dec'17 v/s Nov'17

Quantity in MnT
Source: Turkey Customs
Provisional Data