Scrap Metal News Summary
| Eurofer gloomier over steel outlook - Recycling International Prospects for the steel market in Europe have worsened for the second half of ... especially skyrocketing energy prices, |
World scrap prices fell for the third week in a row
SHIP BREAKING/RECYCLING REPORT
Activity and action remain sparse across all recycling destinations, with very few (market) sales to speak of, including minimal firm interest or serious numbers from End Buyers that may tempt Owners / Cash Buyers to engage in any meaningful negotiations.
Fundamentals, which remain the primary driving factors of the ongoing volatility, remain precariously poised across all locations, with steel prices volatile / down and currencies still struggling to find stable footing.
As a result, a sort of two
tier market has emerged, one where Cash Buyers, Brokers and Owners expect the
market to be at a certain level, and another where Local Recyclers seem to be
intentionally positioning prices well below asking levels, and both are about
USD 50/LDT apart at this time.
Only on select and favored
tonnage, like Russian built tankers or smaller LDT specialized units in decent
condition are welcomed with acceptable numbers from the markets, particularly
from a picky Bangladesh.
Standard Handy, Panamax Bulk
Carriers, and Capes are seeing prices in the mid USD 550s/LDT (if at all), as
the number of End Buyers with the ability to establish workable L/Cs across the
sub-continent continues to dwindle.
Diwali holidays in India
have afforded the market there a break, but the persistent inertia evident in
Pakistan and Bangladesh has become a prolonged malaise and is not giving Cash
Buyers any confidence to offer on any of the small number of candidates
available for recycling, instead preferring the far more bullish trading sector
as a viable alternative.
For week 43 of 2022, GMS demo rankings / pricing for the week are
as below.
|
Demo
Rank |
Location |
Sentiment |
Dry
Bulk USD
/ LDT |
Tankers USD
/ LDT |
Containers USD
/ LDT |
|
1 |
Bangladesh |
Weak |
570 / LDT* |
580 / LDT* |
590 / LDT* |
|
2 |
Pakistan |
Weak |
560 / LDT |
570 / LDT |
580 / LDT |
|
3 |
India |
Weak |
550 / LDT |
560 / LDT |
570 / LDT |
|
4 |
Turkey |
Weak |
240 / LDT |
250 / LDT |
260 / LDT |
*Small LDT
To read the remainder please visit GMS WEEKLY,
