It was another slow week in Aliaga with Turkish breakers having most of the week off due to the Eid holidays.
Only a couple of small units were reportedly delivered locally and the supply for tonnage continues to remain low. At the same time, demand from end buyers continues to firm in the absence of available tonnage and subsequent local fixtures. As a result, current local activity is doing little to satisfy the needs of the local market.
In addition to the demand for tonnage, other factors, which are influencing the pricing for tonnage, include the currency and local steel prices, which remained on the positive side. Consequently, the market remained firm the last week of July, with a reported improvement of about USD 5 per lt.
Although August has traditionally been a quite month, it is yet expected to become busy post-Ramadan and it remains to be seen how Turkish buyers are going to react and what prices will be offered for the units offered for recycling in the coming weeks.
Source: steel guru. 5 August 2014