Ship Recycling Market - Week 51 - TURBULENT TIMES!
Ship Recycling Market - Week 51 - TURBULENT TIMES!
As sub-continent markets veer through the last couple of weeks towards the end of the year, we can look back and reflect on what has been an extremely turbulent 2022.
Prices reached decade long peaks above USD 700/LDT in the first quarter of the year before crashing back down by about USD 200/LDT, with certain trades seeing below the USD 500/LDT barrier and even into the high USD 400s/LDT on certain occasions.
On the West End, the situation was no different in Turkey, where levels too hit a record USD 500/Ton for a brief period, only to plummet about half in value (about USD 250/MT) in a rather short period, and has remained on the sidelines ever since.
Steel plate prices and especially the relevant currencies have all seen record lows against the U.S. Dollar, shattering records by the month during the summer period.
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