Post elections are trailed by yet another (fairly) positive week. Local prices improved marginally (although a lack of market fixtures failed to peg where levels really stand today) accompanied by a strengthening Turkish Lira. From the currency perspective, the TRL appreciated against the USD from TRL 2.18 on Monday to TRL 2.12 by close of business Friday.
Notwithstanding, despite positive market sentiments and local fundamentals, recycling activity remains depressed as ship-owners continue to either trade their Vessels and reap the benefits of an improved freight market in the area or (alternately) commit their vessel to the sub continent. Strong local demand for Vessels persists with many local recycling yards now empty and keen to acquire fresh tonnage.
Source: steel guru. 8 April 2014http://www.steelguru.com/international_news/GMS_weekly_report_on_Turkey_ship_breaking_industry_for_WEEK_14/336401.html