Several weeks of non stop rains in Chittagong have
preceded an overall damper market with very few offers on new vessels to report
and prices emanating at far lower levels than expected.
Subsequently, a number of vessels seemingly destined
for the Chittagong market (even those discharging there) have simply bypassed
Bangladesh altogether, to head to the firmer markets of India and Pakistan.
Whilst Bangladesh lags at least USD 10 per LT LDT
behind their competitors, with demand virtually non-existent at present, it may
be a bleak few weeks ahead for local buyers who are perhaps more pre-occupied
(at the moment) with Ramadan and the incessant rains.
Source: steel guru.
8 July 2014
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