Posted on 02 Apr 2025
Türkiye's total DRI/HBI imports in February plummeted by 90% to only 5,830 tonnes, compared to 58,451t imported in February 2024, according to Turkish Statistical Institute (TUIK) data monitored by Kallanish.
The average price for HBI imports was $327/tonne.
In the first two months of 2025, total imports reached 123,824t, down 13% from 142,641t during the same period in 2024.
In February, Libya was the main supplier, contributing 5,188t, at $334/t, a 50% decline compared to February 2024 at 10,451t.
The February HBI supply was also 92% lower compared to the 2024 monthly average of 77,449t.
Notably, in 2024, Russia dominated supply, and in 2025, Qatar entered the market with the largest market share to date.
Although HBI/DRI imports into Turkey increased in 2024, recording their historically highest consumption, this raw material is used by Turkish mills only in limited quantities.
This is because it reduces production yield, shortens EAF refractory life, and increases energy consumption, according to Koray Günay, purchasing director at Colakoglu Metalurji.
The rule of thumb is that HBI is 10% below the price of HMS scrap, while pig iron is 10% more expensive. However, once Russian pig iron is banned in the EU from 2026, that supply will be redirected to the global market, which will likely change the dynamics.
Meanwhile, in February the cost of imported scrap was $374/t and pig iron at $378/t, compared to HBI/DRI at $327/t.
The gap between scrap and pig iron is negligible, while the discount for HBI from scrap at 13% is higher than typical.
Source:Kallanish
