Turkey's iron ore imports has boomed in August with a high increase in the number of imports from Brazil and India. According to the data, iron ore imports increased from 743 247 tons in July to 925 759 tons in August. Imports from Sweden amounted to roughly 165 001 tons per month, while imports from Brazil rose from 243 326 tons in July to 582 470 tons in August.

Ever since Turkey started to purchase iron ore from India since the beginning of this year, iron ore from India drew attention in the third month of the latest trade data of Turkey. Turkey made imports from India in August 118 569 tons, in July 116 272 tons and in March 68 010 tons. With the market participants showing the latest iron ore sale to Turkey last month, the trade is expected to continue..

Due to the persistence of the deterioration in the steel market, the exports of Indian iron ore to Turkey and to Europe has lost the pace in the second quarter of the year. However, as steel mills are trying to explore options to reduce raw material costs in the face of a remarkable increase in steel prices, the potential for Indian iron ore remains a talking point in the region. On the other hand, Atlantic iron ore costs remain a matter of contention between some buyers and sellers..