With ongoing strikes and improving steel plate prices, Bangladesh roared back into the picture this week to reclaim its place as market of the moment. Steel mill owners took the opportunity to stock up, causing demand and prices spike impressively upwards over the course of the week.
On a note of caution however, it seems as though most mill owners have stocked up and that demand may fall from this coming week - so this most recent of spikes may not be something that endures.
Notwithstanding, several ship owners chose to take advantage of this and a number of sales were confirmed at increasingly strong numbers. Vista shipping of Ukraine continued their clear-out of older tonnage with the sale of the capesize bulker CAPE M (25,222 LT LDT) for a firm USD 436/LT LDT.
Source: steel guru. 19 November 2013