Ship Recycling Market - Week 43 - TWO TIER MARKET!
Ship Recycling Market - Week 43 - TWO TIER MARKET!
Activity and action remain sparse across all recycling destinations, with very few (market) sales to speak of, including minimal firm interest or serious numbers from End Buyers that may tempt Owners / Cash Buyers to engage in any meaningful negotiations.
Fundamentals, which remain the primary driving factors of the ongoing volatility, remain precariously poised across all locations, with steel prices volatile / down and currencies still struggling to find stable footing.
As a result, a sort of two tier market has emerged, one where Cash Buyers, Brokers and Owners expect the market to be at a certain level, and another where Local Recyclers seem to be intentionally positioning prices well below asking levels, and both are about USD 50/LDT apart at this time.
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