22 October 2013

GMS weekly report on Bangladesh ship breaking industry for WEEK 42 of 2013:

A quiet week in Bangladesh ensued, largely because of Eid holidays, but it was difficult to steal the thunder from the in-form Indian market after their showing over the previous few weeks.

Steel prices have settled in Chittagong after a turbulent last month, with the currency stable and demand beginning to improve after a less than impressive start to the fourth quarter of the year.

It was understandable to see no market sales recorded over the holiday period, and with the China market softening recently, it will be interesting to see how prices rebound once end buyers get back to the table to acquire. A competitive Bangladesh may see Pakistan and even India push on yet further, in order to secure their share of the market tonnage.

Source: Steel Guru. 22 October 2013

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