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

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.