With October moon cake holidays on the horizon, activity in China even for the plethora of local state subsidized tonnage has started to somewhat stall.
Many of the private owners remain content to bring their vessels to the Indian sub continent shores, to enjoy the significant premium of almost USD 200/LT LDT higher or failing that, to sell ‘as is where is’ in the Far East at prices well above local Chinese demo yards.
A slide in steel prices had seen levels fall below USD 300 per LT LDT recently Turkish yards and even those in Vietnam and Indonesia are even offering above China at present.
Source: steel guru. 9 September 2014