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GMS Market Commentary on Shipbreaking in TURKEY in Week 18 - STRUGGLING!!-2019 China(Guangzhou) Int’l Laser Equipment and Sheet Metal Industry Exhibition
5/8/2019 - Laser Equipment, Sheet Metal Industry expo |
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The Turkish market has been really struggling of late, with local steel plate prices that have found an unexpected stability at a relatively weakened USD 315/MT, the Turkish Lira that has degraded to point of nearly breaching the TRY 6.0 mark against the US Dollar, local market sentiments that remain rather pessimistic (expecting further declines ahead), and a diminutive supply of meaningful tonnage that is really hampering Turkey’s recycling market. Moreover, as the subcontinent markets remain positioned some ways ahead (despite the onset of the monsoon season and domestic budgets), there seems little that the Turkish market is able to do on its own, in order to attract the attention of more Ship Owners.
Most in the local economy are expecting an overall weakening in the Turkish market to be forthcoming, given the U.S. sanctions on Iranian oil, a major exporter to the Turkish market. As such, a potential inflation in the Turkish economy during the summer months would certainly degrade the current situation further.
Time will tell what’s really in store for the Turkish market as a lot of aspects currently seem to be conspiring to make it a slow summer in Aliaga.
钣金展-激光设备展-2019年广州国际激光设备及钣金工业展
-2019 China(Guangzhou) Int’l Laser Equipment and Sheet Metal Industry Exhibition
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