South Asia: Shipbreaking import prices inch up in recent deal for Bangladesh

Scrap ship import prices into India and Pakistan, compared to the previous week, remained steady, while prices in Bangladesh witnessed an uptick of $10/LDT, along with reporting a sale.

Sale in Bangladesh

The recyclers of Chattogram are keen to secure small-sized tonnage and are offering attractive prices compared to India and Pakistan. On the sales front, a bulker was fixed from Indonesian owners, Lumoso Karunia (7,987 LDT).

As the construction season begins soon in Bangladesh, it is expected that offer prices should remain steady as many recycling yards are currently running empty.

Deals

Total tonnage reported last week at Chattogram Port was 40,170 LDT.

INR touches all-time low

Domestic scrap prices softened last week on weakening end-user demand and rumours that vessels loaded with large quantities of scrap are arriving at the west coast of India. The INR touched an all-time low of 81.15 last week.

Deals

Total tonnage at Alang Port last week was 12,154 LDT.

Pakistan downtrend

The recycling market at Gadani have remained out of active business for about several weeks now. Many steel mills in the country have decided to extend their shutdown due to sluggish demand for finished steel products as a result of heavy rainfall and floods.

Total tonnage at Gadani Port last week was nil.

Prices in $/LDT
Source: SteelMint Research