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Gyrations in ship breaking steel scrap and plate cutting prices at Alang |
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Friday, 02 October 2009 |
 Shipping heavyweights are keeping the market agog with a perennial supply of vessels for dismantling of more than 100,000 tonnes in September 2009.
It is learnt that sizeable number of new vessels are expected to go
afloat during November to January catalyzing owners to dump vessels
with alacrity.
Nonetheless small ship owners are eager to park
vessels rather than get it scrapped probably waiting for an improvement
in the Baltic Dry Index which has maintained uncertainty.
In fact, this bipolar movement has kept the market in flux.
On
the flip side, the demand for scrap has remained firm in harmony with
the stable long product market prices. The future looks promising with
prices slated to improve as the construction activities picks up with
the unleashing of state stimulus.
International scrap prices have
taken a beating by USD 30 per tonne to USD 40 per tonne during
September with the collapse of Chinese citadel and holiday in Middle
East. However in the ensuing month definite activity is anticipated as
Middle East market opens after Ramadan with renewed vigor to replenish
depleted stocks. The sustainability of this revival will however depend
on the movements in China.
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Source: Steel Prices india
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