Global Ship Breaking Offers Rise By Upto USD 15/LT, W-o-W

Ship breaking market continues its upward trajectory. The price of scrap is on the rise because of the increased competition in the market.

-In India, appreciated Rupee as well as firming of steel plate prices kept the market in a satisfactory level.

-Local demand for steel in the Bangladeshi market remained strong as the supply side has suffered due to the incessant rains.

-The Pakistani demolition market is also characterized by a shortage of marine steel available for process, leaving potential local buyers  in  an  inconvenient  position  within  the market.

-As for the Far-Eastern market is concerned, price levels still remain low in comparison with the  prices  offered  in  the  Sub-Continent,  as local  yards  mainly offer deals  with  subsidized tonnage or environmental friendly recycling.

-Chinese market saw an upward movement in the prices in comparison to last week.
Turkey markets prices kept the same level of high increase in prices as the week prior.

Global Ship Breaking Prices (in USD/LT) in Week-32

Source : GMS, SteelMint Research