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GMS Market Commentary on Shipbuilding in Turkey in Week 47

Steel News - Published on Fri, 29 Nov 2019

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The Turkish market, whether weaker or firmer, seems to be suffering through more of the same, week after week. The primary source of agony for this market has been the ongoing shortage of tonnage, for some time now, which has crippled the ability of Aliaga Recyclers to function at all. Local fundamentals while firmer, remain relatively in the same condition as last week. Although the Turkish Lira reported a marginal improvement to TRY 5.70 levels by the time the week ended, local steel plate prices continue to average between USD 265 – USD 270/MT, leaving prices once again suspended after their recent improvement.

As such, it seems the Turkish market will continue to suffer through this excruciating lack of purchases, regardless of how fundamentals are performing.

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Posted By : Rabi Wangkhem on Fri, 29 Nov 2019
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