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Take a look below at our Demolition Weekly Market Reports for Week 38 of 2019 (listed alphabetically):
Week 38 2019 (16th September – 20th September)
DEMOLITION QUICK UPDATE
The previously weakening performance of the Sub. Cont. demolition markets started seeing some minor signs of improvement with the
ending of the monsoon season. Bangladesh still focused on handling existing inventory, but confidence is improving in the market. In India
the currency finally showed some stabilization even though steel prices are at an all-time low. In regards to Pakistan, it is striving for a breath since it has not been active for almost a year due to cash buyers’ fears and the decline in local…..
Source: Athenian ShipBrokers
20th September 2019 – Volume 205 Issue 896 – Week 38
GLOOM STARTING TO LIFT?!
As the fourth quarter gets into full swing, a degree of stability finally seems to be emerging in the subcontinent markets as a couple of sales have reportedly registered at firming numbers this week, leaving Cash Buyers and Recyclers cautiously optimistic.
Many had been expecting some sort of return to form come September, but constant declines over the summer / monsoon months across all subcontinent locations (and even Turkey of late) has delayed this by at least a month or so.
Given the drastic declines noted over the recent past, there is little hope that levels will return to previous highs in the mid USD 400s/LDT (and higher). However, if the markets improve just enough to make up some of the previous heavy losses of about USD 70/LDT, it would certainly be an appreciable start.
Source: GMS Leadership