With 16 vessels at anchorage (13 of which
concluded by principals of GMS), it has been a busy tide of deliveries and
beachings this week in Bangladesh. This is just as well, with the market
bouncing back after the nervy moments experienced last week with a significant
decline in local steel plate prices.
Steel prices actually gained ground by as much
as USD 10 per LT LDT wiping out the previous week’s losses in the process as
anxious buyers returned to the table, eager to get their hands on available
tonnage once again.
As
the political disquiet pre election finally begins to calm, many buyers can
refocus their attentions on importing vessels once again. Despite the local
volatility and the seemingly ample supply of vessels beached already in
January, demand and pricing is expected to remain healthy for the foreseeable
future.
Source: steel
guru. 4 February 2014
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