It was yet another week of declining levels in Aliaga as there was no change in the fundamentals influencing prices. As a result, the market witnessed a further drop of about USD 5 per MT due to the depreciating steel prices.
Apart from the diminished supply of vessels, which resulted in several end buyers seeking other opportunities to keep their facilities operating, it is now being reported that the demand for steel from the domestic construction industry too is declining.
As such, Aliaga recyclers are evaluating the best way ahead, in order to survive the harsh prevailing market conditions.
Several stakeholders in the industry have set their attention towards the Far East, hoping for regulatory changes that will positively affect the steel demand in the domestic industry.
Source: steel guru. 26 November 2014http://www.steelguru.com/international_news/GMS_weekly_report_on_Turkey_ship_breaking_industry_for_WEEK_47/353386.html