Bhavnagar ship breaking, Asia's largest ship breaking yard will remain close for two days on account of sale closed announced by association due to inequality in prices in terms of demand and supply.
Jugal Bhatia, President of Broker Association of Bhavnagar 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).
Trader stated that, “Volume has come down to Qty of 5,000/MT in a day from earlier amounted to Qty of 10,000-12,000 MT but the prices remain same”
The price trend of rupees against dollar is noticeably changed from 58.8 to 63.3 per USD M-o-M.
On 23 August '13, Bhavnagar ship breaking EX- yard price was quoted at Rs 23,400 /MT.
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