Chinese prices remained marooned some USD 200 per LT LDT from their sub-continent competitors, their lowest levels for some years now.
Indeed, as the lowest placed international recycling market (below even Turkey and other South East Asian scrap yards), it was no surprise to see another bleak week pass by on the sales board.
The export of cheap Chinese billets is still causing some concern across sub-continent markets in particular and until measures are taken to tax these imports, the international ship recycling sector may remain in the doldrums for some time yet.
Source: steel guru. 3 December 2014