The week before the budget was never going to be a busy one for local Pakistan buyers, and so it proved to be this time around with few local sales to speak of and very few end buyers even emerging to buy.
No doubt, events in India will be watched with interest in the hope of securing a bargain or two post budget.
Many yards are still stuffed with tonnage and a break from the buying could be just the tonic needed to emerge back to the table in a month or two with the aggression Gadani buyers have proved themselves capable of several times this year already.
Source: Steel Guru. 29 May 2012http://www.steelguru.com/middle_east_news/GMS_weekly_report_on_Pakistan_ship_breaking_industry_for_WEEK_21_2012/265945.html