Alang, India- Steel & Ship Recycling Market Update Dated 23-11-2021
23-Nov-2021
- The Iron Ore was at its peak on 12May2021 @USD205 per M.Ton delivered China, on 05Oct.2021 it was USD130 & on 10.11.2021 it was just USD 84.50, which means reduction in price by more than 60%.
- Where as the Coal was at its peak on 05Oct.2021 @USD272 per M.Ton delivered China, on 02Nov.2021 it was USD137, which means reduction in price by about 50%.
- The Steel Ingot at Mandi Gobindgarh reported opened at INR.43,500 per M.ton, moved down by about INR 300 Per M.Ton & reported finally close @ INR.43,500 per M.ton.
- As per the above Iron Ore & Coal market reports, there seems to be more room for the Steel Ingot to go down.
Alang, India Ship Recycling Market was as per the following:
- Rolling Steel Plate (Hand loading) of 8x9 Ani (12-13mm) at Alang reported sold around INR39,500 per M.Ton.
- Steel Melting Scrap reported sold around INR 36,500 per M.Ton.
Alang, India Ship Recycling Status:
- 84 Total Number of Ships are being recycled at Alang.
- Total Weight (LDT) M.tons of All these ships is 9,84,944.
- About 3,15,182 has been processed / recovered out of the total beached tonnage.
- Currently, about 5,000 M.Tons is being recovered from all these ships.
So far as of today, in November Month of 2021, Alang Ships Beached:
- Number of Ships Beached –12
- Total LDT of these 12 ships is about 1,40,040 M. Tons
Market Views:
- The production at Alang of all ships is about 5,500 M.Tons per day.
- The demand of finished steel products produced by small rolling mills those use steel plates is quite low. And there is stock holding among these rolling mills and due to that there is payment crunch situation among them.
- The China reports suggest that there can be a big financial crunch in China due to non-payment of many International Due Payment Bonds by the Chinese companies. If such situation arises then it may lead to a global financial problem in the times to come.
Disclaimer: This blog should be considered just as a market update. Contents are mentioned genuinely, without any prejudice & without any responsibility of any kind at AlangToday.com's end.