20 November 2014

GMS weekly report on Turkey ship breaking industry for WEEK 46 of 2014:

The situation in Aliaga remains unchanged from what has been reported the over the last month. Local steel plate prices have fallen steadily, declining further over the course of last week a fact that is being attributed to the global depreciation of this commodity trade due to the cheap availability of Chinese billets.

As such, even though demand remains strong and the Turkish Lira appears to be relatively steady, even showing small signs of improvement, the abysmal supply of tonnage persists with reports of only a handful of small LDT previously concluded units hitting the shores of Aliaga.

Consequently, the negative sentiment in the market has prevailed, causing prices to fall further by USD 5 per MT with even more falls feared in the coming weeks.

Source: steel guru. 19 November 2014

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