After a turbulent last few weeks, there were few signs of any stability returning to the Chinese market. Steel prices have come off significantly leaving prices softer overall by about USD 20-30/LT LDT.
Yet many end buyers were still reluctant to commit on new units (unless at rock bottom prices) with fears of further volatility still very much evident.
To that end there were no market sales to report and very few signs of any deals / sales in the pipeline - despite a vast number of candidates (many of which are positioned in the area) being proposed.
Source: Steel Guru. 22 May 2012http://www.steelguru.com/chinese_news/GMS_weekly_report_on_Chinese_ship_breaking_industry_for_WEEK_20/264920.html