Marginal signs of an
improvement in pricing and sentiment were visible this week perhaps as a result
of a slowing in the supply of state owned tonnage and a realization that an
improvement will be needed following the election victory in India, to secure
any market vessels at all.
Levels though still
remain stranded USD 150 per LT LDT below what their sub continent competitors
are paying and for even smaller general cargo units positioned in the area, it
is gradually making more sense for owners to head elsewhere.
Local scrap markets in
the Philippines, Vietnam and Indonesia have been more competitive on the
pricing of late than the Chinese market and some serious upwards moves on the
price will need to be made in future, to secure any of the international
tonnage.
Source:
steel guru. 27 May 2013
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