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Wednesday, November 14, 2018 - 12:11:22 PM
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Mining News Pro - Alang is one of the largest ships breaking yard in the world located in Gujarat -Western India, has reported decline in ship breaking imports to about 0.13 light displacement tonnes (LDT) in Oct’18 as against 0.17 LDT in Sep’18, fall by 23.52% M-o-M, as per the customs data.
According to Mining News Pro -Alang is one of the largest ships breaking yard in the world located in Gujarat -Western India, has reported decline in ship breaking imports to about 0.13 light displacement tonnes (LDT) in Oct’18 as against 0.17 LDT in Sep’18, fall by 23.52% M-o-M, as per the customs data.
It seems that imports of scrapped ships has been narrowed down in line with weaker finish steel demand in Indian market lead to dip in prices by INR 1,000-2,000/MT across steel products, particularly in Western region (Gujarat) which resulted in lower procurement of scrap among participants.
Another key factor was noted, high fluctuations in INR against USD, this keeps buyer away as no major bulk scrap vessel imported during the month of Sep`18. Further slowdown deliveries of finished products led to stockpile and created liquidity crunch among buyers.
Further, on yearly comparison, the Ship Breaking volumes have declined by 7.14% to 0.13 LDT in Oct`18 compared to 0.14 LDT in Oct`17.
Meanwhile in CY18 (Jan-Oct) registered at 1.92 LDT which is slightly fall by 1.53% against 1.95 LDT on same time frame in CY17.
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https://www.miningnews.ir/En/News/298637
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