As the last of the sub-continent markets to feel the heat of cheap import
of Chinese billets, the Bangladeshi market has some way to go before sentiment
and pricing recovers (both India and Pakistan are several weeks ahead in this
process).
Therefore, it is not expected that any sensible levels whatsoever will be
forthcoming out of Bangladesh in the immediate future. Those owners with
tonnage to sell should probably focus their efforts elsewhere rather than give
end buyers the excuse to quote exploitative numbers.
Indeed, the depression that has been afflicting both Pakistan and India
appears merely to have caught on in Bangladesh, despite no material slump in
either the currency or steel prices.
Source: steel guru.
4 November 2014
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