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Take a look below at our Demolition Weekly Market Reports for Week 46 of 2019 (listed alphabetically):
Week 46 2019 (11th November – 15th November)
DEMOLITION QUICK UPDATE
Finally some light at the end of the tunnel for the Sub-Cont recycling market due to the prices escalation. Indian market maintained its stableness for second week in a row. Bangladesh seems that is taking back its power. Lastly, Pakistan once again remained silent as it does for over a year now, with no signs of improvement in the upcoming…..
Source: Athenian ShipBrokers
15th November 2019 – Volume 207 Issue 904 – Week 46
After several weeks of all pervading negativity off of the back of slumping Bangladeshi steel plate prices, the rollercoaster nature of the international ship recycling markets was on full display this week, as prices and sentiments once again started to step towards being positive.
Indeed, so troubled was the market in Chittagong that the BSBA (Bangladesh Shipbreakers Association) tried to form a cartel and impose a price ceiling of USD 350/LT LDT on any available units. This, expectedly, shifted the focus of Ship Owners and Cash Buyers towards the Indian (and to an extent Pakistani) market, where there was at least a modicum of stability as all else was failing, despite some mid-week Rupee wobbles.
On the far-side, Turkey still continues on, albeit leaving Turkish Recyclers in a tricky position, as plate prices stay steady near the USD 270/MT market, with no meaningful tonnage to bid on.
Source: GMS Leadership