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Take a look below at our Demolition Weekly Market Reports for Week 23 of 2019 (listed alphabetically):
Week 23 2019 (03rd June – 07th June)
DEMOLITION QUICK UPDATE
The previous week was a silent one for most of the sub-cont. recycling markets as it marked the end of Eid Holidays and the monsoon season which keeps on progressing. Bangladesh was the most dormant since all buyers are waiting on the upcoming budget and its consequences. Pakistan again was incapable of absorbing tonnage for demolition, which could be slightly excused due to the holidays. India on the other hand while it saw some improvements after the election results, its steel prices are once again…..
Source: Athenian ShipBrokers
07th June 2018 – Volume 202 Issue 881 – Week 23
The stagnating inertia in the international ship recycling markets continued this week, with Pakistan, Bangladesh and Turkey entirely offline due to Eid holidays (winding down the Holy Month of Ramadan) and the traditionally quieter monsoon season gradually getting under way in the Indian sub-continent.
There was a brief bounce in the Indian market following the election victory of the pro-business Mr. Modi, but local steel prices have begun to cool off ever since and Alang Buyers appear notably reluctant to commit on new vessels as most of the market focus is now shifting to Alang, due to the overall intransigence from Pakistan and Bangladesh and the higher offers emanating from India.
The market in Bangladesh remains the quietest of all, with the upcoming budget on June 13th likely to determine the immediate direction on prices, which have already lost USD 20 – USD 30/LDT over the last few weeks. Most yards in Chattogram also remain stuffed with tonnage and demand is at the lowest it has been all year, with essentially no new enquiries emanating from local Buyers.
Source: GMS Leadership