February 8, 2016
The latest scrap metal prices, news and recycling information.
Ship Breaking Scrap Metal Prices Update
GMS Weekly – this is a brief summary of the report – The unrelenting slide in scrap prices extended itself for yet another week as sentiment continues to turn worse across the Indian sub-continent ship recycling markets.
For the time being, the sheer volume of vessels available for sale amidst dire freight, commodity, and global stock prices is pushing prices ever lower. A reduced local capacity (due to yard closures for bankruptcy and with many end users already having filled plots) is leaving many vessels without any sensible offers at all at present.
For week 06 of 2015, GMS demo rankings for the week are as below:
|Demo Ranking||Country||Market Sentiment||GEN CARGO
|1||India||Weak||USD 225/lt ldt||USD 255/lt ldt|
|2||Pakistan||Weak||USD 220/lt ldt||USD 250/lt ldt|
|3||Bangladesh||Weak||USD 220/lt ldt||USD 250/lt ldt|
|4||Turkey||Weak||USD 150/lt ldt||USD 160/lt ldt|
|5||China||Weak||USD 110/lt ldt||USD 120/lt ldt|
Lion Ship Brokers also reports on the state of the ship demolition market –
Bulkers: Same old same old… the BDI continued to drop on a daily basis and has broken through the300 barrier, standing today at 297 points (yet another ‘historic low’). In the meantime, Chinese New Year is around the corner, thus we do not foresee any market improvement in the coming few weeks as the whole of Far East is on holiday mode. As expected, the s+p activity was very low this week, recording a total of 6 second hand transactions (1 cape, 3 supramaxes, 1 handy & 1 singledecker).
Demolition: The rates continued to soften for one more week, as a result of more & more tonnage
flooding the market. We understand that so far 81 bulkers (including 15 capes and 35 panamaxes)
have been torched since the begging of this year. China is closed for holidays (no sales reported)
while Turkey is quiet (no sales reported either).
Recycling and Scrap News
All news by YIEH – According to France Steel Association (FFA) published the latest data showed that in January this year, France’s scrap prices rose an average by 8.7/ton (about US$10/ton) month on month, down substantially by €72/ton (about US$79 USD/ton year on year.
Among the, France domestic steel scrap H2 prices were at €152/ton (about US$166/ton), rose by €8/ton month on month, down by €68/ton year on year; those for steel scarp H1 prices were at €159/ton (about US$174/ton), rose by €7/ton month on month.
In other news – Japan’s Ministry of Finance Statistics in December 2015, Japan imported 7,247 tons of stainless steel scrap, down by 17.3% month on month.
In 2015, Japan imported 124,076 tons of stainless steel scrap. The average monthly import price was ¥145,801/ton, an increase of 1.6% month on month.
Among them, Japan imported 4,029 tons of stainless steel scrap from Korea, down by 2.5% month on month; imported 1,360 tons from Taiwan, down by 10.1% month on month; imported 772 tons from United States, down by 57.8% month on month.