11 August 2011

GMS weekly report on CHINA ShipBreaking industry for WEEK 31 of 2011:

Chinese prices showed signs of improvement this week as moves had to be made to fall in line with what the Indian subcontinent was paying. Indeed, in recent weeks it had seemed to make more sense for cash buyers to buy vessels in China as is' and bring them across to the Indian subcontinent as the price gap was approaching USD 75 rather than the usual 50 USD.

For that reason Chinese end buyers have not been receiving their share of market tonnage of late - deliveries of older deals continue, but for the time being only those geographically positioned vessels in suspect (working) condition seem to be making their way to local buyers.

Even the marginal improvements being mentioned (by some 5 USD across the board in China) will give cash buyers some cheer amidst the alarming volatility and falls of the Indian market in the past few days.

Source: Steel Guru (Sourced from GMS Weekly). Thursday, 11 August 2011

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