Turkey imported 852.65 thousand tons of iron ore from Ukraine in H1 2024

Steel enterprises of Turkey imported 852.65 thousand tons of iron ore from Ukraine in January-June 2024, compared with 330.24 thousand tons in 6 months of 2023 (+158.2% y/y). This is evidenced by the preliminary data of the Turkish Statistical Institute (TUIK), SteelOrbis reports.

In particular, in June, 158,500 tons of Ukrainian heavy metals were imported into the country, which is 117.8% more than in the same period last year.

In general, in 6 months, Turkey increased its iron ore import by 50.7% y/y – to 5.42 million tons, its costs increased by 55.6% y/y – up to $720.53 million.

In June 2024, the country imported 938.88 thousand tons of this raw material, which is 6.8% more compared to May and 29.8% more year-on-year. Import costs for the month amounted to $117.01 million, which is 6.8% more month-on-month and 15.3% y/y.

Brazil became the main supplier of raw materials in January-June – 2.45 million tons (+8.5% y/y). Ukraine ranks second among exporters of ferrous metals to Turkey, and South Africa ranks third – 688.3 thousand tons (60 tons in January-June 2023).

As GMK Center reported earlier, Turkish steel companies increased the import of steel billets from Ukraine by 107.5% in comparison with the same period in 2023 – up to 40.65 thousand tons in January-May 2024. In May of this year, Turkey imported 10 thousand tons workpieces of Ukrainian production, which is 100.8% more year-on-year.