As prices remained
stranded well below USD 300 per LT LDT, it was another no show of a week in
China.
Even Vietnamese,
Indonesian and Filipino scrap yards were able to pay firmer levels than in
China. As a result, many locally flagged smaller vessels finished up in these
yards rather than making the voyage to a traditionally higher Chinese market.
Of course, the
supply of well-priced state tonnage eligible for the subsidies remains
consistent and this is where yards and owners alike continue to make their
money.
Source:
steel guru. 16 September 2014
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