Atlantic Supramax scrap market witnesses drop due to inactivity in week 5
The supramax segment in the Continent and Baltic Sea regions endured another trading week under bearish momentum, as the quiet market led to lower levels for the week of Jan. 27 – Feb. 3. During the week, spot rates continued to face pressure as the scrap market struggled to supply adequate cargo and remained weak due to limited opportunities. “The market remains under pressure with weak demand and excess tonnage,” a source said. Ultimately, the market saw weak sentiment, with the push of excess tonnage putting the market under pressure. ...
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