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Take a look below at our Demolition Weekly Market Reports for Week 22 of 2019 (listed alphabetically):
Week 22 2019 (27th May – 31st May)
DEMOLITION QUICK UPDATE
The monsoon season has traditionally affected the recycling markets in the Sub-cont., which becomes quieter during that period. Bangladesh focused on consuming existing inventory as the upcoming budget decisions and religious celebrations made local players more hesitant. Pakistan once more remained unable to take advantage of the low activity of its sub-cont. competitors as prices on offers stayed within unsatisfactory levels. Finally Indian market is yet to capitalize the positive feeling prevailing…..
Source: Athenian ShipBrokers
31st May 2018 – Volume 201 Issue 880 – Week 22
OUT FOR THE COUNT!
The market remains on an overall subdued footing, despite the recent surge in optimism in India, brought on by last week’s election victory of Prime Minister Mr. Narendra Modi.
Bangladesh essentially remains out for the count with the budget due on June 13th (in which new duties / taxes on the steel sector are expected to be introduced) and a week long Eid holiday, which are set to begin from early next week, signaling the end of the Holy month of Ramadan.
Pakistan remains desperately positioned below the USD 400/LDT mark for most units and there appears to be little hope of any fresh arrivals here any time soon, especially after this most recent currency depreciation and an upcoming budget on June 11th.
Source: GMS Leadership