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Take a look below at our Demolition Weekly Market Reports for Week 04 of 2019 (listed alphabetically):
Week 04 2019 (21st January – 25th January)
DEMOLITION QUICK UPDATE
Last week was quiet for most of the sub-cont. recycling markets. In India, continuing fluctuations in local steel prices and currency affected the appetite of local buyers for new tonnage, hence leading them to a more conservative approach. Bangladeshi market on the other hand was rather active as a couple of reported sales suggested. Finally in Pakistan there were no considerable alterations…..
Source: Athenian ShipBrokers
25th January 2018 – Volume 197 Issue 862 – Week 04
Since the advent of 2019, the declines witnessed across the Indian subcontinent markets have shown no signs of abating and increasingly desperate Cash Buyers finally started to offload their hefty existing (and expensive) inventories at ever decreasing rates.
As such, as evident from this week’s massive port report (See Page 8), Bangladesh has started to rapidly fill up with tonnage and with India and Pakistan positioned some way below, the supply into Chittagong is expected to continue as long as demand / available space remains.
The results of the mini-budget announced in Pakistan have been distinctly underwhelming, with very little material change to report (as expected) and it is hoped that this could present a long overdue bounce back from Gadani in the near future.
Source: GMS Leadership