The market of the moment continued to perform impressive feats this week with some huge numbers seen on available tonnage particularly favored large LDT dry vessels and tankers (gas free for man entry only).
The recent setbacks in India did not seem to deter end users although there is the feeling that many of the hot buyers are swiftly filling their plots.
As a result, the remaining Gadani buyers may look to peg their prices just below India, in attempts to sneak in a bargain or two, despite fundamentals remaining strong. If Bangladesh fails to push on to the heights hoped for, then some of these less aggressive end buyers may succeed in this.
Source: steel guru. 19 Aug 2014