Turkish iron ore imports increased by 25% in the first quarter, on the back of higher blast furnace-based steel output and mills' restocking activity, according to statistics published this week.
Data released by the Turkish Statistical Institute (TUIK) showed the country imported 1.95 million mt of iron ore in Q1, 25% higher than the 1.46 million mt imported in the same period of 2013.
The surge in iron ore imports seen in the first two months of the year, however, reversed in March, when Turkey imported 530,738 mt, down 42% month on month, in line with a sharp fall in blast furnace-based steel output that month.
Turkish crude steel production in March fell 4.3% year on year to 2.85 million mt, as previously reported by Platts. BOF output was down 18% to 729,000 mt in that month, contrary to the trend in January-February, while EAF crude steel production declined 4.3% to 2.12 million mt, according to Turkish Steel Producers' Association (TCUD) data.
Brazil remained Turkey's largest supplier of iron ore in March, providing 169,955 mt. Sweden shipped 166,030 mt, while Ukraine's iron ore exports to Turkey totaled 110,285 mt. Turkey also imported 84,435 mt of iron ore from Finland in March, according to TUIK data.