Turkey imported 618 thousand tons of iron ore from Ukraine in January-April

The total import of ZRS by Turkish consumers during the period amounted to 3.6 million tons

In 2024, Turkish steelmakers significantly increased imports of iron ore from Ukraine. In particular, in January-April this year, imports amounted to 618.24 thousand tons compared to 30 thousand tons in 5 months of 2023. This is evidenced by preliminary data from the Turkish Statistical Institute (TUIK), SteelOrbis reports.

In general, in 4 months, Turkey increased iron ore imports by 59.6% compared to the same period in 2023 – up to 3.6 million tons. Import costs amounted to $493.9 million, up 78.1% y/y.

The main supplier of raw materials in January-April was Brazil – 1.91 million tons (+15.1% y/y). Ukraine ranks second among the exporters of iron ore to Turkey, and South Africa is the third – 512.2 thousand tons (60 tons in January-April 2023). The company imported 165 thousand tons of ore from Sweden (-66.3% y/y), 161.84 thousand tons from Uzbekistan (not imported in January-April 2023), and 156.8 thousand tons from the Russian Federation (+104.2% y/y).

In April, Turkish steelmakers imported 1.07 million tons of iron ore, up 24.8% month-on-month and 155.4% y/y. In monetary terms, imports increased by 13.8% m/m and 126.7% y/y to $140.35 million.

In April, Brazil shipped 450.92 thsd tonnes of raw materials to Turkey (+79.6% y/y), Ukraine – 157 thsd tonnes, South Africa – 168.33 thsd tonnes (not exported in April 2023).

As GMK Center reported earlier, in 2023, Turkey reduced its imports of iron ore from Ukraine by 1% compared to 2022, to 582 kt. The total volume of iron ore imports to this country last year decreased by 4% y/y – to 9.58 million tons. This decline corresponds to a drop in steel production by Turkish steelmakers – by 4% y/y, to 33.7 million tons.