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Despite the fourth quarter of the year being well under way, it has been surprising to see the Indian subcontinent markets still stuck in the ongoing doldrums. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
The summer malaise that has set in to the primary international ship recycling destinations has continued for another week, with muted demand, declining offerings and despondent local fundamentals that continue to take a toll on respective local sentiments. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
Prices remain marooned in the mid USD 300s/LDT as a sluggish summer of offers and sentiments in the global ship recycling markets nears an end. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
Despite the conclusion of Eid holidays and the ongoing shortage of tonnage in the market,subcontinent locations (especially India and Pakistan) remain stranded around the mid USD300s/LDT mark. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
Prices across the subcontinent markets have been rocked by the shocking deterioration of local steel plate prices & currencies (especially in India) and the immediate / short term outlook for the various recycling markets certainly seems grim. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
Subcontinent markets continue to remain depressed over these summer / monsoon months and with Eid holidays now upon us, there remains little hope of a return to more bullish numbers anytime soon. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
Following significant declines in various fundamentals over the summer / monsoon months at each location, all subcontinent markets are now offering on units, in the mid-to-high USD 300s/LDT. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
Markets across the subcontinent continue to endure a rough ride over the summer months and there is virtually no good news over the recent past that would bring optimism back to the industry (at least until the monsoon’s start winding down). The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
The mid-year slump witnessed across all recycling locations has shown no signs of abating, with another poor showing (especially from the subcontinent markets) as offers on units declined across the board on the back of weakening steel plate prices, with India taking the biggest hit once again. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
Markets remain stuck in the quagmire this week, with local steel plate prices declining across all subcontinent markets and by about USD 35/LDT in India over the course of a few weeks, Bangladesh is still reeling from the 10% VAT that was imposed in their recently announced annual budget, the Pakistani market has remained quiet as domestic fundamentals remain under pressure and lastly Turkey seems entombed by its fundamentals as the Lira weakens once again. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
