News Global Market iron ore 24 March 2022
Import of pig iron up by 21%
In January, 2022, Turkey increased import of Ukrainian-made iron ore by 2.08 times to 156,1 thousand tons y-o-y. It was reported by SteelOrbis citing the Turkish Statistical Institute (TUIK).
In total Turkey in January reduced iron ore import by 41.1% y-o-y to 718.4 thousand tons.
Turkey’s key iron ore import source was Brazil. In January, Turkish enterprises reduced import of Brazilian-made iron ore by 78.4% to 170.4 thousand tons y-o-y.
Brazil is accounting for 24% of Turkey’s total iron ore import. Second is Sweden – 23%. Ukraine is accounting for 22% of Turkey’s total iron ore import.
In January, 2022, Turkey reduced the import of Ukrainian-made pig iron by 20.7% to 18.5 thousand tons y-o-y.
In total, Turkey increased the pig iron import by 38.5% to 81.7 thousand tons.
Turkey’s key pig iron import source was Russian accounting for 67% of Turkey’s total pig iron import. In January, the country imported 54.6 thousand tons of Russian-made pig iron, up 2.8 times y-o-y.
Second is Ukraine, accounting for 23% of Turkey’s total pig iron import.
As a reminder, Turkey in 2021 increased iron ore import from Ukraine almost twice to 1.18 million tons y-o-y. Ukraine accounted for 11% of Turkey’s total iron ore import.
In 2021, Turkey increased import of pig iron from Ukraine by 8.8% to 295.5 thousand tons y-o-y. Ukraine accounted for 25% of Turkey’s total pig iron import.
Turkey is the seventh largest steel producer in the world in terms of volumes. According to the Turkish Steel Producers Association, in 2021, the country increased steel production by 12.7% to record 40 million tons y-o-y.