Pakistani Buyers have been committing tonnage at bullish price levels even above the $350 per lt/ldt mark, paving the way in the sub-continent markets right before the start of the Eid ul-Azha holidays on 31st July (which will slow down the recycling activity in Pakistan). The strong numbers are putting Indian and Bangladeshian Buyers for non-HKC tonnage into a ‘wait and see’ position and respectively we haven`t witnessed much activity in purely commercial transactions from these markets this week.
The prices for melted scrap in India softened a slightly from $303 per mt to $296 and the Plate prices increased by $3 to $377 per mt during the week. We are hearing that the Evergreen units (Ever Decent, Uni Arise and Ever Deluxe) are still trading with Buyers for final Breakup in India basis HKC standards.
Apart from some Container units that have been sold to Bangladesh and Pakistan we can see that the majority of Liner Operators have developed a recycling policies to scrap their units in HKC compliant facilities (in India or Turkey) while most of the smaller tonnage providers still go for the ‘last dollar’.
Prices in Turkey improved a bit this week, scratching the $200 mark. But given the large amount of tonnage landing on the shores of Aliaga for breaking the short-term outlook is blurred. Yet another relatively modern Cruise ship – Carnival Inspiration – has been landed on the increasingly crowded Aliaga recycling strip.