Turkey’s pig iron imports triple in November compared to October

In November 2014, Turkey's pig iron imports amounted to 92,827 mt, rising by 207.5 percent month on month and up 40.6 percent year on year, according to the data provided by the Turkish Statistical Institute (TUIK). The total value of Turkey's pig iron imports in the given month was $40.9 million, up 207.5 percent month on month and rising 50 percent compared to November 2013. According to the data for November 2014, the average price for Turkish pig iron imports in the given month was $440.6/mt, remaining unchanged compared to October.

Meanwhile, in the first 11 months of last year, Turkey's pig iron imports increased by 8.7 percent to 862,871 mt, while the value of these imports rose by 14.3 percent to $369.33 million, both on year-on-year basis.

In the first 11 months of the previous year, Turkey imported 465,385 metric tons of pig iron from Ukraine, down 1.41 percent year on year. Ukraine ranked first among Turkey's pig iron import sources in the period in question, followed by Russia which supplied 350,976 mt, up 59.26 percent year on year. Meanwhile, in November alone, Russia was Turkey's leading source of pig iron imports, supplying 57,586 mt.

Turkey's pig iron import sources in the first 11 months of 2014 are as follows:

Turkey's pig iron sources in the first 11 months of 2014 can be seen in the graph below: