19 December 2014

GMS weekly report on China ship breaking industry for WEEK 50 of 2014:

Despite the recent falls across the Indian sub-continent ship recycling markets, levels have moved no closer to allow China to secure an international deal or two.

Indeed, the only deals Chinese buyers have been able to conclude this year are from state owners of Chinese flagged tonnage who are eligible for the Chinese state subsidies.

So poor are domestic steel prices that much of the steel is being exported abroad, which is what is killing markets elsewhere.

Source: steel guru. 17 December 2014

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