20 September 2011

GMS weekly report on BANGLADESH shipbreaking industry for WEEK 37 of 2011:

Bangladesh this week dipped below what the Indian market was able to offer as sentiment and demand failed to pick up to the level that many in the industry had been hoping.

With many yards already stocked to the brim and end buyers eyeing the end to the market extension on October 12th, it has been a fairly inert last few weeks for the Chittagong market.

Cash buyers have continued to acquire 'as is' tonnage in the hope that an extension wall be put in place (as it has been on the previous two occasions) but India has improved in the last week to such an extent that they could well remain the obvious choice for upcoming deliveries in due course.

Source: Steel Guru. (Sourced from GMS Weekly). 20 September 2011

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