China prices settled back down into the mid-300s/LT LDT after the recent spike that saw one or two bulkers sold tor unrealistically high numbers close to 400/LT LDT (on a par with Indian levels).
There has been the usual speculation that prior to Chinese New Year levels will pick up again as historically has been the case. With a change of leadership in China and greater drive to import steel, there could well be another spike in levels to satisfy demand from a relatively dry market at present.
The one deal concluded for the week saw the Brazilian built Chinese owned panamax bulker JIN HAN (13,350 LDT) sold direct from owner to yard at USD 360/LT LDT.
Source:
http://www.steelguru.com/chinese_news/GMS_report_on_Chinese_ship_breaking_industry_for_WEEK_49_2012/294981.html
