Ship recycling prices across India, Bangladesh, and Turkey have remained stable despite weaker steel markets and cautious buying, reports New York's Marine Link.

Wirana Shipping stated that recyclers are maintaining prices even as demand for steel is uneven. India's steel market has softened without triggering lower recycling bids, while Bangladesh has remained firm despite slower demand. However, Pakistan is facing pressure as falling steel and scrap prices have reversed recent gains, leaving traders with higher-cost inventories.

Bangladesh could see improved sentiment if the June budget includes major infrastructure projects. Steel plate prices have risen, encouraging recyclers, and more vessels have been offered in Chittagong. Turkey has also held steady, with recyclers keeping prices despite uncertainty over construction steel demand.

The supply of ships for recycling remains selective, with offshore, dry cargo, and tanker vessels being offered, but few deals have been concluded. Wider shipping market conditions, including stronger tanker demand, better dry cargo charter rates, and continued container market strength, are influencing recycling supply.

Wirana Shipping Chief Executive Rakesh Khetan noted that prices are proving resilient, driven by discipline and selectivity rather than aggressive sentiment. He added that Bangladesh could provide a demand signal, and the coming weeks will show whether today's stable levels translate into concluded deals.