Despite prices across the sub continent falling by at least USD 15 to USD 20 per LT LDT, Chinese yards remained as inactive on international tonnage as ever with prices below USD 300 per LT LDT now the accepted norm and few owners (at least not eligible for state subsidies) tempted to cash in at such numbers.
As a result, it was another bleak week for the sales board, with only direct and private tonnage from state owners keeping yards active. Furthermore, the cheap import of Chinese steel is one of the reasons behind the recent decline in levels in India, Pakistan and Bangladesh and unless local governments in these locations can increase tariffs or prohibit the import of these billets, it could be a bleak few months ahead for the international ship-recycling sector.
Source: steel guru. 21 October 2014