Bhavnagar ship breaking, Asia's largest ship breaking yard that was closed for two days open today by price quoting higher by Rs 500/MT in all grades and size.
The scrap mandi was closed due to inequality in price in terms of demand and supply. It was also clearly indicated by broker and trader earlier, “we required higher price by Rs 300-700/MT as scrap generation is diminishing”
Jugal Bhatia, President of Broker Association of Bhavnagar earlier said that, “the ship breaking volume has decreased but the prices remain constant in last one month. So we have decided to go for sale close from 24 August to 25 August '13 (Saturday and Sunday).
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