【SMM Steel】Weekly Report on Alang Shipbreaking Market
[India] Last week, buying sentiment in India's Alang shipbreaking market improved to some extent. Recently, after multiple vessels were diverted to Chattogram and Gadani, buyer activity picked up. Despite sluggish domestic steel demand, supported by the strengthening rupee, the price of scrap ship plates in Alang rose from USD 401/tonne (38,300 INR/tonne) to USD 411/tonne (39,200 INR/tonne) as of Friday. The indicative recycling prices remained stable, standing at USD 442–447 per light displacement tonne (LDT) for oil tankers and USD 452–457 per light displacement tonne (LDT) for container ships. Market participants noted that the increased willingness to bid reflects improving market confidence in Alang, though the overall market fundamentals remain weak.