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Take a look below at our Demolition Weekly Market Reports for Week 20 of 2019 (listed alphabetically):
Week 20 2019 (13th May – 17th May)
DEMOLITION QUICK UPDATE
The previous week the sub-cont. recycling markets once again saw a continuing downturn, sliding into the monsoon season. In Bangladesh, a sudden price drop generated insignificant buying interest as its budgets are about to be announced early June, thus making recyclers more cautious. To continue, India continued its gradual decline after having a decline in its currency and steel prices; as well as bringing uncertainty since the results of their elections are getting announced on the 23 rd of May. Lastly, Pakistan’s price levels are now almost matching its competitors, and hopes are up for…..
Source: Athenian ShipBrokers
17th May 2018 – Volume 201 Issue 878 – Week 20
Some dramatic falls in prices have begun to commence across the subcontinent markets as we enter the traditionally quieter monsoon / summer months.
As anticipated for some time now, the Bangladeshi market appears to have reached a breaking point and both, demand & pricing have alarmingly nosedived this week. As port reports from recent months will testify, the market in Chattogram has been absorbing a majority of the market tonnage and is (unsurprisingly) stuffed at present.
Whilst India and Pakistan remain open to take new vessels, they do so at much reduced rates and it seems that all subcontinent markets will soon be coalescing into close proximity of one another – in terms of levels which remain only USD 5/LDT apart at present.
Source: GMS Leadership