Pakistani buyers were here to acquire units at levels approaching or similar to numbers from their neighboring India. Indeed the slight midweek retreat seen in India even put Gadani on par with their neighbors for a while.

Steel prices remain strong and there are no such concerns with the currency as there have been in both India and Bangladesh so the immediate outlook for Gadani does appear promising.

If India continues to stuff away tonnage the way it has been over the recent weeks, then Pakistan's presence will be much needed to absorb some of the excess tonnage of which, there appears to be no shortage of for the time being.

(Sourced from GMS Weekly)