Markets have endured another boost off the back of surging commodity prices and there is every expectation that the USD 700/LDT mark will be imminently breached in the sub-continent markets once again.
These are comfortably (and certainly) the highest numbers we have seen since the historical highs of 2008, when over USD 800/LDT was surpassed and the recent universal skyrocketing steel plate prices across the recycling board (even in China) are carrying the weight of these recent prices.
The chief movement is coming from a rampant Bangladeshi market where steel prices continue to surge upwards (some of the most noteworthy increases of late), in line with soaring commodities in general, as the Russian invasion of Ukraine intensifies into an uncertain future.
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Source: Capitallinkshipping
