Shanghai: China’s
ship recyclers are enduring a torrid time of late. “The summer months have not
been kind to the Chinese market,” ship scrapping experts, GMS Weekly notes in
its most recent report. Prices on scrap steel have slipped further, to place
them well behind their Indian sub-continent competitors, at least by some $150
per ldt and even behind Turkey as well.
GMS said it would
be no surprise if prices fell below even what Vietnam and Indonesian scrap
yards are paying on geographically positioned units, which tend to be locally
flagged and smaller general cargo types.
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