11 August 2011

GMS weekly report on BANGLADESH shipbreaking industry for WEEK 31 of 2011:

As the fervor grew for an imminent Bangladesh reopening, cash buyers began to position their tonnage delivered and as is in the direction of Chittagong to ensure they cashed in on the expected (but perhaps temporary) surge in price that news of the initial opening could invariably bring.

The likelihood is though, despite the falls of the week, that India may remain just ahead if not on par with what Bangladesh is able to offer. Indeed, a Chittagong market reopening may provide just the impetus the Indian market needs to stay on its feet given recent setbacks.

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

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