08 March 2014

GMS weekly report on Turkey ship breaking industry for WEEK 09 of 2014:

Another week of limited recycling activity went by with hardly any new vessel offerings or local arrivals being reported.

Local steel plate prices too remained relatively stable with the Turkish Lira slightly lower week in week out against the US Dollar. On Monday, the TRL opened at 2.18 and closed on Friday at 2.21 against the USD.

The domestic political situation continues to negatively affect local demand in addition to export volumes to neighboring countries. It seems all eyes are now focused on what will happen during the elections at the end of the month, which is expected in turn, to have a significant impact on local sentiments.

Source: steel guru. 4 March 2014

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