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GMS Market Commentary on Shipbreaking in Turkey in Week 23 – OFFLINE!

Steel News - Published on Thu, 13 Jun 2019

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Like Pakistan and Bangladesh, it has been an extremely quiet week in Turkey this week, thanks to the country being off for Eid for all 5 working days. With steel mills closed and no movement on local steel plate prices, the Turkish currency at least registered some improvements as it now trades at a promising TRY 5.80 region against the US Dollar, retaining some hope for local Recyclers that perhaps, the market may bounce back post Eid.

There is however, the issue of the crushing shortage of tonnage, which has left local Buyers desperate to fill their plots in order to avoid potential shutdowns. It certainly remains a tricky situation for Turkish Recyclers.


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Posted By : Rabi Wangkhem on Thu, 13 Jun 2019
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