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Take a look below at our Demolition Weekly Market Reports for Week 34 of 2019 (listed alphabetically):
Week 34 2019 (19th August – 23rd August)
DEMOLITION QUICK UPDATE
For one more week, the performance of the recycling markets in the Sub-Cont. was below par even though religious celebrations came to an end. In Bangladesh end users remained focused on consuming existing inventory with hopes for activity to pick up in the near future. In India, the disappointing trend displayed by currency depreciation and decline in prices of local steel plate prices kept market uninspiring. Lastly, the Pakistani market has slightly improved its offerings in order for yard’s activity to be…..
Source: Athenian ShipBrokers
23rd August 2018 – Volume 204 Issue 893 – Week 34
Despite the conclusion of Eid holidays and the ongoing shortage of tonnage in the market, subcontinent locations (especially India and Pakistan) remain stranded around the mid USD 300s/LDT mark.
As the ongoing declines over the summer / monsoon months have been notably drastic and significant, going into the fourth quarter of the year, Cash Buyers with expensive, large LDT inventory to offload are still hoping for levels to pick up in Bangladesh, however, the timing of such a recovery remains uncertain.
Concerns of a recession in the U.S. amidst trade war jabs with China, in addition to a global fall in steel plate prices have added further negativity to sentiments this week and there remains a great degree of hesitation from end Buyers to engage in negotiations / offer firm numbers (especially until some sort of sensible stability is seen).
Source: GMS Leadership