India gains momentum as Bangladesh ship recycling market comes under pressure

AI Summary

Improved steel demand in India is positively impacting the ship recycling market there, contrasting with challenges in Bangladesh caused by slower demand and financing issues. Local steel plate prices in India have increased, supporting market optimism.

Wirana Shipping has identified improving steel demand in India as an encouraging sign for the country’s ship recycling market, while slower demand and financing pressures continue to weigh on Bangladesh. The latest Market Outlook reports a second consecutive week of improving steel demand in India. Local steel plate prices increased by USD 4/MT, semis and ...