GMS Week 52 – ROUSING RECOVERY!

As Christmas holidays descend the world over, the sub-continent recycling markets are ending the year on a far happier and comparatively more of a bullish note than where they were come the mid-point of the year.

Prices have come racing back to stand at levels similar to those at the start of the year, having collapsed by about USD 150/LDT during the year, as the world got to grips through the various stages of the Coronavirus pandemic.

Of course, the virus continues to wreak havoc across the world to this day, with a reported new mutant strain being identified in the U.K. only this week, leading to harsher restrictions and global travel bans being implemented all over again.

Until the vaccine starts to be widely distributed and delivered, the world is going to have to accept living with the virus and enhanced social distancing and mask wearing measures that come with along with it, in order to try and curb its exponential and seemingly unending spread.

In terms of markets, Pakistan and Bangladesh have both started to come back into the picture this week, as India has endured a slump of almost Rs. 1,000 (nearly USD 14) in plate prices over the last couple of weeks, sinking them to the bottom of the sub-continent price rankings once again (having briefly been atop for just a week).

On the far end, even Turkey continues its unrelenting firming for the 4th straight week, with local steel plate prices up once again, Lira maintaining stability, and demand stifled with a healthy collection of deliveries over recent months.

Supply overall remains mostly of the VLOC and Capesize Bulker variety – for HKC into India and otherwise, as owners remain tempted to sell for recycling again, now that rates have come back above USD 400/LDT.

For week 52 of 2020, GMS demo rankings / pricing for the week are as below.

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Source: GMS