The continued increase in import scrap prices has triggered a rise in demand from Pakistani buyers this week.
Accordingly, after a deal for around 4,000 mt of ex-UK/EU shredded scrap in containers was reported at $440/mt CFR, the material changed hands at $450/mt CFR on Thursday, June 30. Besides, offers for shredded 211 scrap of UK and European origin in containers to Pakistan have been voiced at $450-460/mt CFR, compared to $440-445/mt CFR at the beginning of the week and up by $25-30/mt week on week. Meanwhile, offers for ex-UAE HMS grade scrap have settled at $510/mt CFR, up by $20/mt since the beginning of the week.