Despite year end
approaching and Chinese holidays in sight, there was no pick up of activity in
the Chinese ship recycling market. Traditionally the months of December and
January have seen prices improve as yards seek to fill quotas before renewing
licenses.
Steel prices have however
been deliberately pegged back by a government seeking to cool the Chinese
economy, after fears it had been growing / overheating too fast.
There is also the
suspicion that even if prices did start to improve from the current realities
in the low USD 300s/LT LDT, there would still be no competing with a rampant
Indian sub-continent market, for the time-being.
Source: steel
guru. 10 December 2013
No comments:
Post a Comment