An unstoppable decline of local steel plate prices remains the highlight
of the tenth month of this year for the Turkish market.
It does not look like that October will bring any sort of stability or
hope for the domestic shipbreakers, who appear to have totally lost momentum
and are left watching the values of their acquired units drop by nearly 10%
during the past week alone, and by more than 20% through the course of the
month.
As such, end buyers are no longer keen to purchase market tonnage at any
levels starting with 3, despite the fact that they desperately need to see
their yards operating, be it at losses, or risk shutting down entirely.
Source: steel guru. 21 October
2014
http://www.steelguru.com/international_news/GMS_weekly_report_on_Turkey_ship_breaking_industry_for_WEEK_42/351254.html
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