Turkey’s iron ore imports fell 17.3% year-on-year in the first quarter of 2025 [1], totaling 2.09 million metric tons, as crude steel production slowed. The value of these imports also declined 35.4% to $228.52 million, reflecting weaker demand.
In March alone, Turkey imported 951,292 metric tons of iron ore, marking a 176.6% increase from February and an 11.1% rise year-on-year. Despite this monthly surge, revenue from these imports dropped 18.4% compared to the same period last year, settling at $100.71 million.
Brazil remained Turkey’s largest iron ore supplier, delivering 1.40 million metric tons, though this represented a 3.8% decline year-on-year. Sweden followed with 330,710 metric tons, while Uzbekistan supplied 173,456 metric tons, reflecting a 72.5% increase.
The downturn in iron ore imports aligns with a 2.9% drop in Turkey’s crude steel production, which totaled 9.26 million metric tons in Q1. The decline was more pronounced among BOF-based mills, where output fell 12.4% to 2.506 million metric tons.
Last year saw a strong recovery in Turkey’s steel sector after two years of stagnation, but global challenges, including volatile demand and competition from Asian producers, have weighed on early 2025 performance.
Sources:
[1] Turkey’s Iron Ore Imports Down 17.3% in Q1 Amid Lower Crude Steel Output https://www.steelorbis.com/steel-news/latest-news/turkeysironoreimportsdown-173-in-q1-amid-lower-crude-steel-output-1391760.htm