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Iron Ore March 23, 2018 12:30:41 PM

Turkey's Iron Ore Imports Collapsed 11% in January

Paul Ploumis
ScrapMonster Author
The non-agglomerated ore imports tumbled sharply by over 25% during the month. The imports dropped from 552,344 tonnes to 341,203 tonnes over the year.

Turkey's Iron Ore Imports Collapsed 11% in January

SEATTLE (Scrap Monster):  The recent data published by the Turkish Statistical Institute suggests significant drop in iron ore imports by the country during the first month of the current year, primarily due to heavy decline in imports of non-agglomerated ore.

Turkey imported 924,549 tonnes of iron ore in January 2018. This is lower by 10.8% from the imports during the same month a year before. The Turkish iron ore imports had totaled 1.037 million tonnes in January 2017. The total value of imports too has dropped by nearly 5% from $86.29 million to $82.03 million, despite nearly 7% jump in per tonne iron ore price over the previous year.

The key supplier was Brazil with exports of 341,203 tonnes of iron ore export to Turkey. The imports from Brazil accounted for nearly 37% of the total Turkish imports. The imports were valued at $21.2 million and averaged at $62.20 per tonne. The other main exporters of iron ore to Turkey were Sweden (235,840 tonnes), Russia (165,351 tonnes), Finland (70,754 tonnes) and Canada (66,797 tonnes).

ALSO READ: Turkish Ferrous Scrap Imports Soared in January

The non-agglomerated ore imports tumbled sharply by over 25% during the month. The imports dropped from 552,344 tonnes to 341,203 tonnes over the year. The value of imports dropped significantly by 28%. The average import prices too saw decline of 3.5%. The key sources of import were Brazil (341,203 tonnes) and Finland (70,754 tonnes).

Turkey imported 5.8% more agglomerated ore in February 2018, as compared with February last year. The value of imports surged higher by 14% over the year, whereas average price of import was up by nearly 8%. The major exporters of agglomerated ore to Turkey were Sweden (235,832 tonnes), Russia (165,351 tonnes), Canada (66,797 tonnes) and Ukraine (44,605 tonnes).

Out of the total imports of 924,549 tonnes of iron ore by Turkey during Jan’18, agglomerated ore accounted for 55% share. Non-agglomerated ore accounted for the balance 55% share of total imports.

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