03 July 2020
Source: GMS Leadership
Subcontinent markets finally started to display some encouraging signs this week, as positive movements on prices were reported across the board.
As is generally the case, this has quickly coincided with some increasingly speculative Cash Buyer offerings / purchases reportedly taking place as Buyers look to book deals at today’s levels with the prospects of a higher forward market over the coming week(s) / month(s), going into the traditionally higher fourth quarter of the year.
In truth, as prices slumped below the USD 300/LDT mark (almost USD 150/LDT from the peaks seen earlier this year), many in the industry were feeling that this was an overly dramatic correction in response to the collapsing global sentiments due to the restrictions set in place to tackle the global Coronavirus outbreak.