Ship recycling markets in India and Pakistan are facing weaker buying sentiment as softer domestic steel prices weigh on yard appetite, while Bangladesh’s demand has held steady, Hellenic Shipping News reported. Turkey has seen some improvement in steel and scrap markets, but that has not yet produced higher prices for vessels destined for recycling.
In Pakistan, Best Oasis said in its weekly assessment, cited by Hellenic Shipping News, that falling local plate prices continued to discourage buyers. Vessel prices nevertheless stayed broadly in line with the previous week, and no notable new recycling sales were reported. The company described the Pakistani rupee as relatively stable and said continuing imports, including hot-rolled coil, were helping satisfy steel demand despite reduced supplies of ship-derived scrap.
At Gadani, buying remained selective, with most facilities occupied after further vessel arrivals, according to the outlet’s wider market account. Renewed supplies of steel products from Iran and favourable tax treatment for imported scrap were adding to alternative steel availability. These sources of supply placed further pressure on recyclers already contending with weak demand and declining local plate prices.
India’s Alang market also softened, although interest in fresh tonnage, particularly larger ships, remained active. Specialised vessels continued to attract attention while activity involving conventional ships was muted. Hellenic Shipping News reported that local plate prices and the US dollar edged lower. It also cited an outlook that tighter domestic liquidity following the Reserve Bank of India’s liquidity absorption could strengthen the local currency and raise scrap prices in the months ahead.
Bangladesh presented a steadier picture, with unchanged offers and recovering demand despite lower domestic plate prices and a stronger US dollar. Chattogram yards were drawing on vessels bought earlier, limiting the effect of scarce attractive tonnage. Potential EU restrictions on ferrous scrap exports could indirectly support domestic recycling demand, the report said, although direct exposure to the EU was limited. Sharply higher domestic fuel prices also raised concerns about operating costs and the steel demand recovery.
In Turkey, Best Oasis reported modest gains in imported scrap and local steel prices but little change in vessel buying levels. Aliaga’s sentiment improved slightly alongside seasonal steel demand, while recyclers awaited clearer market direction.