No. of auction items increased and prices showed no significant drop as compared to the past few months. This may be due to the growing season and small improvement in economy, even though the industrial sector is still sluggish. The overall economy is expected to be better from the investment projects in the public sector and the acceleration of investment by the Government.
International buyers also increased this month from countries such as Lebanon, Taiwan and Pakistan.
Domestic sellers are starting to expand into the sectors of distribution and wholesale, manufacturing, importer & exporter. Overall reflects confidence in the mechanism of unreserved auction as hedging tool for opportunity cost as evident from auction result statistics.
June auction result as compared to May’s
Prices of excavators adjusted down slightly, otherwise not much significant change.
Prices of forklifts also showed no significant change.
Wheel loaders of different sizes dropped in price.
Farming tractors and agricultural tools showed no significant change in price which is a good sign as compared to past few months.
Prices of cranes continue to drop.
Civil work equipment prices showed no significant change such as Rollers and buying power from neighboring countries for newer model excavators.
Engines, cabins, equipment such as generators, compressors, welders, manlifts, concrete mixer, water tanks, truck mounted cranes, and industrial equipment such as lathe machine, cutting machine, grinders, drilling, etc. show seasonal downtrend in price.
Our company is still confident in the Government determination to solve the economic problems which is slowly showing signs of improvement.
(This analysis is for JSSR Auction results only and may differ from the general market)
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