09 October 2013

GMS weekly report on Pakistan ship breaking industry for WEEK 40 of 2013:

Pakistan, for the most part, could only look on a little forlornly, as prices and activity ramped up in their two competing sub-continent markets. The signs are that the long awaited fourth quarter push have finally taken hold in both India and Bangladesh whilst Pakistan still remains stranded some way behind on price.

The Pakistan Rupee has caused some consternation locally (trading this week around 106-107 to the U.S. Dollar) with historical lows having been touched only last week. As India continues its remarkable recovery, it may be some time before Gadani recyclers return to the fold.

A dearth in market sales this week (despite Pakistan's ability to take tankers gas free for man entry), was a sign mat their lack of competitiveness may see them miss out on market tonnage altogether.

Source: steel guru. 8 October 2013

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