Considering the
environmental factors, Supreme Court might order to remove the gas filled parts
from the ships which come to the yards for breaking at Bhavnagar. Dismantling of Gas filled parts like cabin might release hazardous elements like Oil & harmful gases which can causes damage to the environment.
Supreme Court received an application on the same and appointed hearing on 19th July. However, the news is not yet confirmed by any officials but market participants are talking
on the matter. This might cause delay in arrival of ship at Bhavnagar and lead to rise in prices.
HMS scrap in
Bhavnagar traded higher at Rs 25,500/MT i.e. up by Rs 400/MT from last trades.
Suppliers of rolling plates Scrap in Bhavnagar also raised their offers by
Rs 300-500/MT. Scrap of 4 ANI plate traded at Rs 25,500/MT, 6 ANI at Rs 26,600/MT
and 12 ANI at Rs 27,700/MT.
“The news is on the air but we are not confirmed as yet. Another ship breaking yard, Jamnagar, is already closed due to the environmental issues. Prices might also move up if any confirmation comes out in the middle”, said a major importer based in Kandla
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