As Eid holidays rumble into view next week, the buying activity slowed as it became apparent Bangladesh could not compete with their Indian competitors. Cash buyers too seemed far less willing to speculate on a market that has caught out many in the past and has a far more limited number of end buyers than the Indian market.
Demand however, is emerging for the right units (the odd container and tankers gas free for hot works being the favored picks), but the price spread, even between open buyers, can be much as USD 25/LT LDT at present
The Eid break may be ideal in order to peg market levels and return anew in a few weeks to acquire aggressively and satisfy the growing demand for new units in Chittagong.
Source: GMS Weekly. 15 October 2013