Ship Recycling Prices Hold Steady

Ship recycling prices across key recycling destinations have remained broadly stable despite weaker conditions in steel markets, cautious buying and pressure on steel prices, Wirana Shipping’s latest market outlook report has shown.

Ship recyclers are largely maintaining their prices even as demand for steel remains uneven and buyers remain selective. Prices offered by ship recyclers in India, Bangladesh and Turkey have continued at current levels, while Pakistan has emerged as the market most exposed to potential softening in the coming weeks.

The report highlighted a clear disconnect between weaker steel market sentiment and ship recycling pricing. India’s steel market continued to soften without triggering lower prices from ship recyclers, while Bangladesh remained stable despite slower demand for steel used in construction and industry. In Pakistan, pressure has been more pronounced, with recent reductions in steel and scrap prices reversing the gains made over the previous 30 days and leaving traders and steel mills holding higher-priced inventories. This has added to expectations that prices offered by ship recyclers in Pakistan could come under pressure in the weeks ahead.

Bangladesh could see improved sentiment if the new government’s June 2026 budget includes the expected announcement of major infrastructure projects to stimulate the