SteelOrbis has learned from market sources that in Turkey's Aliaga region - the only region in Turkey where ship scrapping is allowed - ship scrap prices are now ranging at $350-360/mt ex-yard, indicating a decline of $20/mt over the past week. Meanwhile, sources state that the softening in import scrap offers for Turkey has exerted increased pressure on the local ship scrap market. Currently, almost all ship breaking companies at the Aliaga facilities are operating at full capacity.
In the meantime, a ship breaking firm has bought seven ships which used to belong to the Turkish naval forces. However, at present there is no available space at the Aliaga facilities, with scrapping work on the ships likely to begin in the coming months.