In July, Turkish steelmakers consumed 3.2 thousand tons of Ukrainian-made iron ore

In January-July 2023, steel enterprises of Turkiye reduced the import of iron ore from Ukraine by 14.6% compared to the same period in 2022 – to 333.44 thousand tons. This is evidenced by the data of the Turkish Statistical Institute (TUIK), reports SteelOrbis.

In July 2023, Turkish steelmakers reduced the consumption of Ukrainian raw materials by 91.1% compared to the same month in 2022 – to 3.2 thousand tons.

In general, in January-July, Turkiye imported 4.23 million tons of iron ore, which is 31.4% less y/y. The value of imports for this period decreased by 42.6% y/y – to $536.9 million, as iron ore prices fell year-to-date compared to the same period in 2022.

The main supplier of iron ore to Turkiye is Brazil – 69% of the total volume of imports. In 7 months, Brazilian companies shipped 2.91 million tons of iron ore to Turkish consumers, which is 20.7% more y/y. In the second place is Sweden (15%) – 654.78 million tons (-33.8% y/y), and in the third place – Ukraine (8%).

As GMK Center reported earlier, in January-July 2023 Ukrainian mining companies exported 9.68 million tons of iron ore, which is 47.9% less than in the same period of 2022. Slovakia consumed the most Ukrainian iron ore – 30.6%, the Czech Republic – 23.7% and Poland – 19.6%.

Also, steel enterprises of Turkiye in January-June 2023 reduced steel production by 16.3% compared to the same period in 2022 – to 15.92 million tons.