In Chittagong, prices temporarily reversed in a previously rampant, while in India and Pakistan, it remained firm, yet, positioned just behind Bangladesh.
India
As per SteelMint’s weekly price assessment, imported ship breaking offers remained firm this week. India continued to be the best placed recycling destination to secure any HKC green tonnage. A number of green candidates intended for HKC recycling started to be proposed once again. Local steel prices have marked an improvement, by nearly $20/t.
The Indian Rupee remained positively poised, trading under the INR 74 mark against the U.S. Dollar.
The total tonnage reported in the Alang port last week was at 70,120 LDT. An LPG vessel arrived in the port namely Oyo (2,044 LDT).
Bangladesh
Bangladesh ship breaking prices declined by $10/LT on a w-o-w basis as many end-buyers in Chittagong now seemed to be in a wait-and-watch mode. In recent weeks, the Bangladesh market remained in the top followed by India and Pakistan.
The total tonnage reported last week in the Chittagong port was 112,946 LDT. A Bulk Carrier arrived in the port namely Lila Porto (21,062 LDT).
Pakistan
After large impressive sales in the several weeks, Gadani recycling yards are starting to fill up and sentiments & demand started to cool down.
Total tonnage reported in the Gadani port last week was at 71,933 LDT. A VLOC arrived in the port namely Kibo (37,363 LDT).
Prices in $/LT
Source- SteelMint Research
Leave a Reply