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
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