Iron ore imports rise substantially in Turkey

According to the latest data released by the Turkish Statistical Institute (TUIK), imports of iron ore in the country during the month of August 2014 rose sharply compared to the previous month. In addition, imports were up 52 percent over the previous year.

In August 2014, the import of iron ore into the country amounted to 951,741 tons. Imports for the month were up 78 percent from the previous month, according to TUIK data. The growth in iron ore imports was driven by an increase in steel production and subsequent holidays, TUIK noted.

Brazil was the largest exporter of iron ore to Turkey during August. Iron ore imports from Brazil amounted to 338,500 tons. Imports from Brazil accounted for over 35 percent of Turkey's total iron ore imports during the month.

The second largest supplier of iron ore to Turkey was Russia. Imports from Russia amounted to 306,160 tons. Sweden was in third place with 164,997 tons of iron ore, followed by Ukraine with 99,279 tons.

Imports during the first eight months of this year amounted to 5.88 million tons, up 8.8 percent compared to the corresponding period in 2013, when imports of iron ore to Turkey totaled 5.4 million tons.