Turkey reduced iron & steel products imports from Ukraine by 64% y/y in Q1

In January-March 2025, Turkey reduced imports of iron & steel products (iron ore, pig iron, ferroalloys, semi-finished products, scrap, rolled steel) from Ukraine by 64.3% compared to the same period in 2024, to 150.54 thousand tons. This is based on GMK Center’s calculations based on the State Customs Service data.

Iron ore and semi-finished products accounted for the key volumes of supplies during the period: 80.29 kt (-79.3% y/y) and 60.52 kt (+97.3% y/y), respectively. A small part of imports is rolled metal products – 8.23 thousand tons, which is 2.5 times more than in January-March 2024, and ferroalloys – 1.5 thousand tons (not supplied in the first quarter of last year).

In March, Turkey imported only 9.99 thousand tons of semi-finished products from Ukraine. The entire volume of iron ore and ferroalloys was supplied in February. Rolled steel was mainly imported in January and February (3.21 thousand tons and 5 thousand tons respectively), with 100% of the supply being hot-rolled and cold-rolled flat products.

As GMK Center reported earlier, Ukraine and Turkey have long been traditional partners in steel trade. During the war, supplies continued, although the status of the participants changed: Ukraine has become a net importer of steel from Turkey. It is highly likely that Ukraine will retain this status for some time after the war ends. Turkey has a developed steel industry and can supply steel products needed for post-war recovery.