Import scrap offers to Pakistan have continued to move up at a rapid pace, rising by $28-30/mt as of the end of the weak since Monday, June 4, and up $35-38/mt over the past week.
Accordingly, by the end of this week, import scrap has changed hands at $475-485/mt CFR. Offers for shredded 211 scrap of UK and European origin in containers to Pakistan have been voiced at $488-495/mt CFR, up by $35-38/mt week on week. Earlier, at the beginning of the week, a deal for around 3,000/mt of ex-UK shredded scrap was signed at $460/mt CFR, and in the middle of the week several new deals were reported at $470/mt CFR, as SteelOrbis reported earlier.