The trade statistics published by the Turkish Statistical Institute (TUIK) indicates that iron ore imports by the country dropped significantly during February this year. The value of ore imports too dropped sharply during the month, upon comparison with the corresponding month in 2018.
Turkey imported 298,672 tonnes of iron ore in February 2019. This is 23.1% lower than the total imports of 388,444 tonnes in February last year. Out of this, imports of lump, fines totaled 249,171 tonnes, whereas the balance 49,501 tonnes accounted for pellets. The value of imports dropped significantly by nearly 35% from $32.532 million to $21.187 million. Over the previous year, the import prices zoomed by nearly 9% from $83.7 per tonne to $90.9 per tonne, said TUIK data.
The largest supplier of iron ore to Turkey in Feb ’19 was Brazil. The imports from Brazil totaled 249,144 tonnes at an average price of $60.9 per tonne. In second place was Ukraine with supplies of 49,501 tonnes, followed by Iran with 26 tonnes.
The cumulative imports of iron ore for the initial two-month period of 2019 totaled 1.245 million tonnes, slightly lower by 5.2% upon comparison with 1.313 million tonnes in Jan-Feb ‘18. The average value of imports recorded drastic decline from $114.6 million to $58.4 million.
The top three import sources were Brazil (929,827 tonnes), Sweden (190,023 tonnes) and Ukraine (99,004 tonnes). The other key suppliers during Jan-Feb ’19 were Russia (26,104 tonnes) and Iran (26 tonnes).
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