India’s ship recycling market strengthened as limited vessel availability and higher local steel prices supported sentiment, according to broker reports carried by Hellenic Shipping News. Intermodal identified India as the only market showing stronger sentiment in its weekly comparison, with Bangladesh, Pakistan and Turkey broadly holding at the previous week’s indications.
At Alang, firmer conditions contrasted with a shortage of fresh recycling candidates. Intermodal said vessels bought in earlier weeks were sustaining waterfront activity, while local steel prices had risen despite recent fluctuations suggesting a period of price adjustment. The Indian currency also strengthened against the dollar, which the broker linked to recent interest-rate and repo-rate interventions by the Reserve Bank of India.
Bangladesh continued to show strong appetite for ships against restricted supply, Intermodal reported. Local steel plate prices increased, but few vessels were available for recycling. The broker nevertheless reported the completion of one bulker sale during the week. It also suggested that potential sanctions relief for certain tankers could bring additional recycling candidates to market, offering support to recyclers in the weeks ahead.
Pakistan faced a weaker backdrop. Best Oasis said buying interest had eased partly because some buyers had recently taken delivery of vessels. It reported a significant reduction in local demand for ship plate and scrap, with scrap and wire rod prices falling by about $25–30 per ton in dollar terms. Best Oasis attributed the weakness primarily to increased supplies from Iran. Intermodal likewise described reluctant buyers at Gadani and pressure from Iranian steel imports, although its assessment put local steel prices only slightly below the previous week’s levels.
Turkey’s vessel prices remained broadly unchanged despite wider pricing pressure. Best Oasis reported an approximately $9-per-ton fall in import prices over the week, while describing local conditions as stable. Intermodal said steel demand at Aliaga had softened slightly and the lira had weakened further against the dollar. It reported no fresh vessel sales and continued scarcity of recycling candidates.