Import prices for scrap in Pakistan have as expected increased in line with the global trend. “Collection in Europe and the US which has already been severely hit by the lockdowns due to the pandemic is getting tighter due to the approach of December. Moreover, the Turkish market has strengthened lately. So we were ready for this increase”, one Pakistani scrap importer commented.
Accordingly, current offers for shredded 211 scrap of European origin in containers to Pakistan are mostly at $315-320/mt CFR Qasim, rising by approximately $10/mt since the beginning of October. According to market insiders, a few deals have been done lately at the lower end of the abovementioned range, but for “urgent prompt shipment”.
In the meantime, HMS I/II 80:20 scrap from the UAE is available at $313-315/mt CFR Qasim, SteelOrbis has learned.