South Asia: Ship-breaking import prices fall by $10-30/LDT on dull sentiments

The ship recycling market is in a confused state at present amidst volatility in demand and supply constraints. There is still a shortage of units available for recycling.

Ship-breaking import prices dropped by up to $30/light displacment tonnage (LDT) in India. Prices in Bangladesh and Pakistan markets dropped by $10/LDT w-o-w.

India: Bid-offer disparity results in no deals

Although buying interest remained strong, recyclers of Alang further softened their offers in hopes of getting some deals done which could not be concluded due to the huge bid-offer gap.

Deals

Total tonnage at Alang Port last week amounted to 24,784 LDT, down by 5% w-o-w.

Bangladesh: Dull steel sentiments keep trade at bay

The offer prices from recyclers of Chattogram were the highest among the subcontinent recycling markets but no sales were reported due to dull sentiments in the domestic steel market.

Deals

Total tonnage reported last week at Chattogram Port was 62,854 LDT, up by 32% w-o-w.

Pakistan: Bids not up to sellers' expectations

The end buyers of Gadani turned active and bid competitively to secure tonnage as the strengthening of PKR currency boosted their confidence last week but their bids remained unattractive for sellers which resulted in no deals being concluded.

Deals

Total tonnage at Gadani Port last week amounted to 18,066 LDT, up by 12% w-o-w.

Prices in $/LDT
Source: SteelMint Research