04 November 2014

GMS weekly report on Bangladesh ship breaking industry for WEEK 44 of 2014:

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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