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Take a look below at our Demolition Weekly Market Reports for Week 26 of 2019 (listed alphabetically):
Week 26 2019 (24th June – 28th June)
DEMOLITION QUICK UPDATE
The previous week was one again dissapointing for most of the sub-cont. recycling markets during this painful monsoon season. In Bangladesh the budget which has been imposed makes buyers reluctant even if their plots are already full due to a 10% taxation imposed. India seems as the only scapegoat for recycling at present, even if it had its local steel prices deteriorate, it maintained its currency at healthy levels. Lastly, when it comes to Pakistan it is on the same boat as Bangladesh as a budget announced on recycling has shuttered confidence and along with currency depreciations has…..
Source: Athenian ShipBrokers
28th June 2018 – Volume 202 Issue 884 – Week 26
The ongoing (and seemingly unending) decline being witnessed in the sub-continent markets showed no signs of slowing this week, with some truly pitiful performances seen from all locations.
The 10% VAT introduced in Bangladesh has been the big news from this market over the last few weeks and it has lead to a USD 25/LDT decline in local prices – resulting in very few fresh offers or even deals being concluded to Chattogram Buyers.
Pakistan has likewise suffered a negative budget and some drastic currency depreciations & declines in local steel plate prices of late, leaving minimal buying interest form Gadani for any available ships.
Source: GMS Leadership