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GMS Market Commentary on Shipbreaking in Turkey in Week 02 - WORRIED!

Steel News - Published on Tue, 15 Jan 2019

Image Source: SteelGuru
There seems to be no slack left for Aliaga recyclers to cut of late. Whilst a volatile local steel plate price has been harrowing the local mindset, the seemingly stable Turkish Lira finally decided to add to local troubles by depreciating past TRY 5.50 against the U.S. Dollar once again, finally settling at TRY 5.45 by the end of the week.

Moreover, even though local steel plate prices seem to have settled at region TRY 2.80 per tonne over the last couple of weeks, its performance over the recent past has left Aliaga Recyclers worried that there maybe further declines that lie ahead in wait.

As such, there seems there is little respite for the Turkish market at the present time.

Source :

Posted By : Joykumar Irom on Tue, 15 Jan 2019
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