As with Bangladesh,
the Pakistani market is set for a period on the sidelines as the holy month of
Ramadan commences and many in the industry withdraw from buying any new units
whatsoever.
Despite the
somewhat fanciful hopes of several weeks ago, when it was expected that
Pakistani buyers may embark on a pre Ramadan buying binge at decent levels, the
local market (like all others in the sub continent over the past few weeks) has
failed to impress and local buyers have registered few, if any sales of late
due to the far softer numbers being offered.
Indeed, rather than
pressing on like many had hoped and even expected, Pakistan buyers reverted to
type and simply pegged their levels BELOW what the softer markets of India and
Bangladesh were doing something that saw them once again miss out on some juicy
units.
Source:
steel guru. 1 July 2014
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