As reported earlier, Bangladesh was somewhat slow
to react to the import of cheap Chinese billets, which left many onlookers
somewhat doubtful as to the genuine nature of the recent cooling in prices and
demand.
What has been seen over the course of the week
however, has been a crash in local steel prices by around USD 10 per LT LDT.
However, having seen prices rise last week for the same amount, the market has
leveled itself off again.
Yet, several days of consecutive falls in local
steel plate prices naturally panicked end users who began to withdraw once again,
preferring to wait and watch rather than offer on new tonnage (or offer
incredibly low numbers in the hopes of securing a good bargain).
The one market sale concluded saw the handymax
bulker GROWING (7,329 LDT) committed for a decent USD 420/LT LDT from Taiwanese
owners, who have sold one other handymax bulker earlier this year and have now
finished off their fleet with this most recent sale. The deal was done bsdid as
is Kaohsiung with about 300 Tons ROB included in the sale at no extra cost.
Source: steel guru. 26 November 2014
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