Plate prices down by $6/MT
Construction work on projects have slowed down in India, partly due to ongoing state elections which has further soften finished product prices, while secondary mills are not keen to stocking raw materials.
The anticipated demand after the festive season has not been realized, according to a report by Wirana Shipping Corp.
Plate prices were further reduced by US$6/MT during the weekend 2 Dec, thus taking it to its lowest level seen in last two years 2022 and 2023. These prices are at the lowest level in Rupee terms and in USD terms since end March 2021.
Ship recyclers were offering for fresh tonnages at about US$30/LT LDT lesser than what they are offering now.
Due to the weaker demand situation, ship recyclers have reduced prices offered for fresh tonnage by US$10/LT LDT during the week. Fiinews.com
