Pakistan slumped to the
lowest of the Indian subcontinent markets this week with a whimpering demand
and evasive levels, despite fundamentals perhaps being the strongest of all
markets as steel prices and the currencv remain largely untouched.
Cash buyers continue to
try and offload their expensive (particularly large wet units gas free for man
entry only) into Pakistan only to be constantly disappointed by local prices
and sentiment.
There is demand for the
right units, but there seems to be little incentive for prices to push on with
all competing markets currently so volatile. The onset of Ramadan has hardly
helped to focus buyers who seem content to pounce on tonnage sporadically given
the right unit and price.
Source:
Steel Guru. 23 July 2013
http://www.steelguru.com/middle_east_news/GMS_weekly_report_on_Pakistan_ship_breaking_industry_for_WEEK_29/319678.html
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