As with Bangladesh, the Pakistani market is set for a period on the sidelines as the holy month of Ramadan commences and many in the industry withdraw from buying any new units whatsoever.
Despite the somewhat fanciful hopes of several weeks ago, when it was expected that Pakistani buyers may embark on a pre Ramadan buying binge at decent levels, the local market (like all others in the sub continent over the past few weeks) has failed to impress and local buyers have registered few, if any sales of late due to the far softer numbers being offered.
Indeed, rather than pressing on like many had hoped and even expected, Pakistan buyers reverted to type and simply pegged their levels BELOW what the softer markets of India and Bangladesh were doing something that saw them once again miss out on some juicy units.
Source: steel guru. 1 July 2014