As the fervor grew for an imminent
Bangladesh reopening, cash buyers began to position their tonnage delivered and as is in the direction of to ensure they cashed in on the expected (but perhaps temporary) surge in price that news of the initial opening could invariably bring. Chittagong
The likelihood is though, despite the falls of the week, that
India may remain just ahead if not on par with what is able to offer. Indeed, a Bangladesh market reopening may provide just the impetus the Indian market needs to stay on its feet given recent setbacks. Chittagong
Nevertheless, there were no fresh purchases bound for Bangla shores for the week, with many cash buyers having filled their plates of late and now looking to offload before the market and prices catch them unaware.
Source: Steel Guru (Sourced from GMS Weekly). 10 august 2011