Turkey Pig iron Imports Rise in CY18

Pig iron Imports in Turkey rise by 28.38% Y-o-Y in CY18, the recent released data by Turkey's custom showed.

The nation has imported about 1,298,573 MT Pig iron in 2018, as against 1,011,471 MT in 2017.

The key factor behind surge in Turkey's pig iron imports assessed higher scrap prices globally as compared to last year. As per SteelMint's assessment, average import price for USA HMS (80:20) stood at USD 343-345/MT, CFR Turkey in 2018, up USD 40-45/MT against USD 300-302/MT, CFR in 2017.

During Dec'18, the data shows about 90,396 MT Pig iron imports rise by 18.03% against 76,591 MT in the same preceding CY17.

In Dec'18, the largest exporter of Pig iron to Turkey was Russia- 48,393 MT & Ukraine at 37,993 MT. Similarly, in the total Pig iron imports during 2018 (Jan-Dec), the major sellers of Pig iron to Turkey was - Russia (58.95%), Ukraine (26.43%), Brazil (12.07%), South Korea (1.43%) & Germany (1.12%).

The crude steel output in Turkey decline slightly by 1% Y-o-Y & stood at 37,141,333 MT during Jan-Dec'18 against same preceding last year to 37,331,377 MT.

Trade Key Updates

1. In the month of December 2018, Turkey imported approximately 1,022,786 MT of iron ore, which is up by 37.43% as against 744,227 MT in November 2018. And the major imports were done from Brazil, Sweden, Canada, Russia & South Africa.

2. The global export offers for steel grade Pig Iron are assessed at USD 355-360/MT FoB India, USD 325-335/MT FoB Black Sea & USD 345-350/MT CNF Italy (Our last assessment as on 13th Feb).

3. Substitutes like Scrap imports in Turkey slightly fall from 20,935,694 MT in 2017 to 20,616,955 MT in 2018 despite high prices

Top Load Country in Jan-Dec'18 (Scrap & Pig Iron )

Quantity in MnT
Sources: SteelMint Stats.