Having concluded no new deals for almost a month, it was encouraging to at least see a few more enquiries emerging from the Pakistani market this week, albeit at extremely disappointing levels.
Pakistan buyers have at least been active in lobbying authorities to place greater duties on incoming cheap Chinese billets that are so destroying the market.
However, it was still an altogether disjointed week in terms of sentiment and actual sales, with buyers still nervy after the recent falls / unsure on prices today and whether further falls may be in order.
Source: steel guru. 17 December 2014http://www.steelguru.com/international_news/GMS_weekly_report_on_Pakistan_ship_breaking_industry_for_WEEK_50/354404.html