Even as Chinese buyers started to show signs of life, there was little they could do to persuade any market vessels to come their way and elude the clutches of what is an extremely bullish Indian sub continent market at present.
It was little surprise therefore to see no market sales register, and it may be a barren period of time for local recyclers (during what tends to be a generally more successful period of time for them traditionally) in the build up to Chinese New year holidays at the end of January.
Nevertheless, the success in snaring the bulk of the Chinese flagged state controlled tonnage for demo should stand them in good stead, regardless of whether they capture their share of the international tonnage, as the largest holidays of the calendar year in China approach.
Source: steel guru. 15 January 2014