Import offers of scrap to Pakistan have continued to move down over the past week, though buyers have maintained a cautious approach as regards new bookings, anticipating that the price correction may gain further momentum.
Accordingly, this week import prices of shredded 211 scrap of European origin in containers to Pakistan have been voiced largely at $425-435/mt CFR Qasim, decreasing by around $20-25/mt within the past week. Rare deals for tonnages of 1,000-2,000 mt have been signed at the lower end of the range. Meanwhile, ex-UAE HMS scrap prices have been heard at $420-425/mt CFR Qasim, SteelOrbis has heard.