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Take a look below at our Demolition Weekly Market Reports for Week 45 of 2019 (listed alphabetically):
Week 45 2019 (04th November – 08th November)
DEMOLITION QUICK UPDATE
Another week has passed with no signs of improvement from the Sub-Cont recycling markets. Indian market seems to increase after a long time, steel plate prices appear to have finally stabilised. Bangladesh declined over the past weeks. Lastly, Pakistan for one more week maintained its lethargy as it appears that has been struggling the last year, with no signs of…..
Source: Athenian ShipBrokers
08th November 2019 – Volume 207 Issue 903 – Week 45
For the first time this year, the top spot on the subcontinent demo rankings was relinquished as a beleaguered Bangladeshi market plummeted from first place down to last.
Collapsing local steel plate prices have been the primary contributor to such a fall from grace and the BSBA (Bangladesh Shipbreakers Association) has tried to restrict all purchases for its members at the USD 350/LDT mark – and for this first week at least, all offers seem to be coming in at these painfully low levels. Notwithstanding, it remains to be seen if any sales will in fact take place at such bargain rates, given that both of the competing subcontinent markets (India and Pakistan) are inadvertently placed well ahead of Chittagong.
At present, many domestic yards remain booked with tonnage. As such, there is hardly the gnawing demand on fresh units that many had been hoping would push prices up once the 4th quarter kicked into gear. Instead, Chittagong is facing a decline in prices that is in excess of USD 100/LDT from the peak levels seen earlier this year – and it may well be worth avoiding this market for the foreseeable future, whilst prices and sentiments remain so low.
Source: GMS Leadership