Wirana reports improving product prices
The Indian steel market is now showing a clear direction of improvements across all product segments, as local plate prices increased by another US$7/MT at the week ended 28 Mar, according to Wirana Shipping Corp.
Backed by a good local demand from secondary mills as well as retail trades, prices of billets increased by about US$7/MT for the week and finished product prices also increased by about US$12/MT http://worldsteel.org.
Prices offered by ship recyclers also improved by US$5-10/LT LDT during week. There are not many vessels circulated for Alang as has been the case over the past few weeks https://www.bseindia.com/.
Couple of vessels from container and dry segment circulated were met with active interests from ship recyclers https://www.nseindia.com/.
The Government is currently working on draft of regulation called “Recycling of Ship Regulations, 2025”, for giving clear direction to the ship recyclers as well as Indian ship owners, on ship recycling and related requirements once HKC comes into force with effect from 26 June 2025 https://www.commerce.gov.in/.
The country’s central bank governor has clearly indicated his intention to loosen up monetary policy to support economic growth which is good for the businesses.
“We would expect prices offered by ship recyclers to improve in the coming weeks,” said Wirana. Fiinews.com
