Import scrap prices in Pakistan have as expected decreased this week, mainly under the pressure from lower bids from local steel mills. Meanwhile, buying activity remains subdued as a further price decline is anticipated.
Accordingly, this week offers for shredded 211 scrap of European origin in containers to Pakistan have been voiced mostly at $305-310/mt CFR Qasim, down $2-5/mt over the past week, with sporadic deals for small tonnages (about 2,000 mt) done at the lower end of this range.
Meanwhile, HMS I/II 80:20 scrap from the UAE is available at $295/mt CFR Qasim, SteelOrbis has learned.