Pig iron

In general, the country reduced its import of pig iron during this period by 5.5% y/y

In January-October 2023, steel enterprises of Turkiye reduced imports of pig iron from Ukraine by 17.8% compared to 2022 – to 109.3 thousand tons. This is reported by SteelOrbis with reference to data from the Turkish Statistical Institute (TUIK).

In general, over 10 months, Turkiye reduced pig iron imports by 5.5% compared to January-October 2022 – to 1.12 million tons. Import costs decreased by 29.4% y/y – to $514.05 million.

The main supplier of raw materials to Turkiye in January-October 2023 is the Russian Federation – 778.91 thousand tons (+0.3% y/y). Ukraine is in the second place, and India is in the third place – 74.42 thousand tons.

In October, Turkish steelmakers increased pig iron imports by 2.5 times y/y and by 9.7% m/m – to 132,100 tons. The cost of imports increased by 98% y/y and 7.6% m/m – to $55.49 million.

As GMK Center reported earlier, in 2022 steel enterprises of Turkiye reduced import of pig iron from Ukraine by 46.7% compared to 2021 – to 157.55 thousand tons.

Also, Turkish steelmakers in October 2023 increased production of steel by 2.6% compared to September – to 2.965 million tons, thus increasing it to a maximum since June 2022. For 10 months of 2023, steel production in the country amounted to 27.45 million tons, which is 8.8% less compared to the same period in 2022.