Shipbreaking import prices in Bangladesh, India and Pakistan increased by $5-10.
The recycling market showed more signs of recovery over the past week.
Alang recyclers managed to deliver two more units last week after making several deals last week. The Indian Rupee (INR) is currently trading at INR 74 against the US dollar. Domestic steel demand is also witnessing an upward trend amid widespread positive sentiment.
Commerce in Bangladesh is lackluster
Bangladeshi recyclers lost several ships to a rival market (India) last week.
Price levels are expected to remain stable as there are very few units on the market.
Pakistan is slow
Pakistan managed to secure several ships earlier this year, while India captured special units. However, the price offers of recyclers remained stable due to the lack of supply.
Overall, the markets are likely to remain positive as demand is certainly good.
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