Demolition report dated 12 July 2019

Markets remain stuck in the quagmire this week, with local steel plate prices declining across all subcontinent markets and by about USD 35/LDT in India over the course of a few weeks, Bangladesh is still reeling from the 10% VAT that was imposed in their recently announced annual budget, the Pakistani market has remained quiet as domestic fundamentals remain under pressure and lastly Turkey seems entombed by its fundamentals as the Lira weakens once again.

The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.

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