Competition between the end-buyers in Aliaga remains
fierce, as the limited supply of tonnage prevails and local market fundamentals
remain positive. As the dearth driven aggression to acquire continues, it is
very likely that offers on proposed units could easily exceed expectations.
However, with sub continent prices easily exceeding
over USD 120 per tonne as compared to those form local yards, it seems unlikely
that larger (5,000 to 6,000 and heavier) tonnage will head for the shores of
Aliaga.
Meanwhile, local steel plate prices have improved by
about USD 5 per tonne and the currency closed the week marginally stronger at
TRL 2.10 against the US Dollar, compared to 2.13 where it opened last Monday.
Demand for steel from local steel mills is expected to strengthen further as
summer months are usually the period when construction projects pick up the
pace.
Source: steel guru.
6 May 2014
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