The ongoing dearth of tonnage
continues to keep demand prevalent and prices from the local market, relatively
firm. In fact, there are a few (eager) local recyclers, who are willing to
offer a few notches above prevailing levels, just to get a unit or two and keep
their yards active, rather than risk facing closure.
Notwithstanding, there may be some
hope for the local market in the coming weeks. As was anticipated by local
recyclers, the conclusion of the month of Ramadan would see the market pick up
and supply increase and as is being reported, a dip in the freight rates in the
Med / Black Sea area did see supply firm up by a touch this week.
Accordingly, we may well see Turkey
take in a fair share of sales in August.
Source: steel
guru. 22 July 2014
http://www.steelguru.com/international_news/GMS_weekly_report_on_Turkey_ship_breaking_industry_for_WEEK_29/344562.html
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