The ship breaking scrap prices at Indian graveyard at Alang on the Western coast of India exhibited uncanny gyrations during September in tandem with the happenings in the international shipping industry and scrap market.
Product Size 01-Sep 08-Sep 15-Sep 22-Sep 29-Sep
Plate cuttings 1” 19800 19100 20100 20400 19500
Ships Mixed 15500 15100 15700 15500 15500
Prices in INR per tonne
Excluding excise duty and VAT
Source: www.steelprices-india.com
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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(Sourced from www.steelprices-india.com)
Wednesday, September 30, 2009
Gyrations in ship breaking steel scrap and plate cutting prices at Alang
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