The number of ships arriving for demolition in Alang (Gujurat) fell drastically by about 47% to 16 ships in May’16 in contrast to 30 ships in Apr’16.
In May’16, total 16 ships have arrived to Alang, which was 30 ships in the month of Apr’16, and 17 ships in May’15. There are still 7 ships in this month waiting for breaching and two vessels are expected to arrive.
Currently in Indian domestic market, ship breaking prices are hovering in the range of INR 16,000-18,900/MT (USD 239-282); down by INR 300-900/MT within a month.
Imported scrap offers in the month of May have plunged by USD 45-55/MT M-o-M. Besides, billet prices have also fallen steeply by INR 800/MT in Mumbai during the month.
Price scenario
During week 21, buyers in Bangladeshi markets were cautious after the recent steel price corrections in China and India.
Turkey market remained weak as offers moved down by USD 10/MT in a week and were assessed at USD 170/lt Ldt for general cargo and USD 175/lt Ldt for tanker.
Global ship breaking prices (in USD/ltldt) in week 21
| Country | General Cargo | W-o-W | Tanker | W-o-W | Market sentiments |
| India | 260 | -10 | 290 | 0 | Cautious |
| Bangladesh | 270 | -5 | 300 | 0 | Cautious |
| Pakistan | 265 | -5 | 295 | +5 | Cautious |
| China | 150 | 0 | 160 | -5 | Cautious |
| Turkey | 170 | -10 | 175 | -10 | Weak |
Offers in USD/MT
Source: SteelMint Research
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