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Take a look below at our Demolition Weekly Market Reports for Week 37 of 2019 (listed alphabetically):
Week 37 2019 (09th September – 13th September)
DEMOLITION QUICK UPDATE
The deteriorating performance of the demolition markets in the Sub-Cont. continued for one more week. In Bangladesh end users focused on processing existing inventory, thus fresh tonnage is not yet expected to arrive. The Indian market felt again the impact of the underperforming market fundamentals. As for Pakistan it is still not able to compete with its Sub-Cont. neighbours as prices on offer and…..
Source: Athenian ShipBrokers
13th September 2019 – Volume 205 Issue 895 – Week 37
TRICKLE OF TONNAGE!
Despite the fourth quarter of the year being well under way, it has been surprising to see the Indian subcontinent markets still stuck in the ongoing doldrums. As we reach the middle of September, markets have not been this depressed for several years (at least) and the pervading negativity seems to show few signs of abating.
Bangladeshi plots remain stocked after a heavy first half year of buying and a longer rainy / monsoon season has seen minimal product shift from domestic yards over the summer months. With local steel plate prices having maintained overall previous levels, most are expecting a return to some sort of form in the weeks / months ahead, but it seems to be a process slower than what industry players were previously anticipating.
There is also the lingering hope that the BSBA will eventually overturn the recent increase in VAT that was imposed during the June 13th budget and that the recent influx of cheap Chinese billets also slows a little, especially given a cooling in the trade war scenario between China and the U.S.
Source: GMS Leadership