As the best placed of all sub-continent markets at present, it was slightly surprising to see no market sales recorded into Bangladesh this week. There may have been one or two private acquisitions from existing cash buyer inventories, but overall a slight nervousness has begun to enter the minds of end buyers.
Always conscious of the market movements of their subcontinent rivals, Bangladeshi buyers were keenly aware of the decline in sentiment and pricing in both Pakistan and India, this week.
Steel prices arrowed down by as much as USD 13 per LDT before making a slight recovery by USD 6 per LDT towards the end of the week, but there can be no denying that the seeds of doubt have already been sown in Bangladesh.
Source: steel guru. 21 October 2014