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Take a look below at our Demolition Weekly Market Reports for Week 50 of 2019 (listed alphabetically):
Week 50 2019 (09th December – 13th December)
DEMOLITION QUICK UPDATE
Activity has escalated this week with remarkable results in every market sector. Bangladesh, for another week shows a volatile behaviour of its recycling market. India shows a firm stability, as the local steel prices improve whilst Rupee improves. Pakistan looks ahead for a comeback with big enquiries and notable…..
Source: Athenian ShipBrokers
13th December 2019 – Volume 208 Issue 908 – Week 50
Activity has ramped up in the final month of the year, with several sales of diverse and some large LDT units registering across all sectors. All locations are now poised positively, with a firming demand and improving prices finally giving those Owners and Cash Buyers with tonnage to sell, some much-needed respite, especially after a disastrous fourth quarter that delivered some painful declines across nearly all of the recycling markets.
Notwithstanding, with freight rates still performing admirably, many Owners are waiting to see how the higher priced low Sulphur fuel costs from January 2020 will impact their OPEX. This has likely prevented the deluge of scrap tonnage that many had been anticipating as 2019 neared an end, from surfacing. Instead, we continue to see the ongoing trickle from the middle of the year to the far more steady (but manageable) supply we are now witnessing.
Steel plate prices in India have improved by about USD 22/LDT over the last 4 weeks, whilst the Indian Rupee has firmed, settling from over Rs. 72 against the U.S. Dollar, to the mid Rs. 70s at the close of the week, in further encouraging developments on local fundamentals.
Source: GMS Leadership