16 April 2014

GMS weekly report on Turkey ship breaking industry for WEEK 15 of 2014:

Local steel prices came off (marginally) the past week, with the Turkish Lira remaining at the same levels against the U.S. Dollar. The TRY opened against the U.S. Dollar at TRY 2.11 on Monday and closed at the same rate on Friday, despite some fluctuations through the week ranging.

Recycling activity remains depressed with only a couple of Vessels on the smaller side hitting the shores of Aliaga. Demand for vessels persists with many local recycling yards growing increasingly hungry for some new tonnage.

As such, prices are expected to remain steady despite a small drop in local steel plate prices.

Source: Steel Guru. 15 April 2014

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