- Slow spell continues
Trailing notably tar behind their Indian counterparts, Pakistani buyers have been unable to effectively compete in the international arena and take home any market tonnage. Their prices and weak demand (owing to the month of Ramadan) have resulted in a relatively quiet spell for the local market.
However, as Indian levels now appearing to be comparatively firmer and local Gadani recvclers start to process through tonnages at local yards, it is only a matter of time until the
market regains its momentum and firmer levels are on hand. Until then, other than the one off sale, we do not anticipate much movement from the local market. Pakistan
No market sales reported
Source: GMS Weekly. 29 August 2011http://download.hellenicshippingnews.com/pdf/August%2026,%202011.pdf