After the seemingly brakeless slide from the last couple of weeks, the Turkish ship recycling sector finally clawed its slid e to a halt this week and indications for tonnage (from the very few even willing to offer) even saw some realistic and marginally improved numbers as the week ended.
Despite that there were (logically) no sales taking place into the local market, as owners are simply not ready to settle for today s reduced reality on levels emanating from Aliaga.
Meanwhile, the local sentiment has taken quite the jolt with the massive recent decline (about USD 80 per tonnes) and most locally are not anticipating a positive movement in the market anytime soon.
As such, given the prevailing situation, the immediate future is expected to be a quiet one in Turkey.
Source: steel guru. 17 Feb 2015