Despite the
softening of sub continent markets, it was another bleak week in China, with no
international sales registering as prices hovered in and around (and even below
for smaller units) USD 300 per LT LDT.
With Ramadan set to
keep both Pakistan and Bangladesh out of the bidding and buying for the next
month, now may be the ideal opportunity for Chinese buyers to step up to the
plate and compete (at least) on geographically positioned tonnage.
The government
subsidies have kept levels in Chinese demo yards artificially low for most of
the year, so an improvement in price is hardly expected, yet if sub continent
numbers continue their ominous slide, then China may be forced back into the
action sooner rather than later.
Source: steel guru.
1 July 2014
http://www.steelguru.com/international_news/GMS_weekly_report_on_China_ship_breaking_industry_for_WEEK_26/342860.html
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