The Chinese National October holidays (or traditional moon cake festival) meant that there was very little action this week in China as most people left their workstations to return home.
One deal that was concluded before the holidays saw the WELLY II (10,308 LDT) concluded for region LTSD 365/LT LDT the voyage over to the sub-continent presumably not making sense for the owners.
With the sub-continent market heating up, it will be interesting to see how Chinese recyclers return to the table on Monday, with pricing likely to be key in order to secure their share of the market tonnage.
Source: steel guru. 8 October 2013