After weeks of crushing falls, there appeared to be a glimmer of hope via
stabilizing levels from the Turkish market. The US Dollar remained weak against
the Turkish Lira this week (ending at TRL 2.22), resulting in a slowdown in the
decline in levels for ships.
While ship owners remain eagerly awaiting for local prices to bounce
back, local recyclers are still anticipating a further fall in prices due to
the continued import of cheap steel products from the Far East.
As such, the diminished levels continue to affect the inflow of tonnage
as only a few small LDT vessels have reportedly arrived the waterfront this
week.
Source: steel guru.
4 November 2014
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