Following a scrap booking in bulk for at least 30,000/mt at $480/mt CFR this week, Pakistani customers have continued active negotiations recently. In particular, a new deal for around 30,000/mt of ex-UK/EU shredded 211 scrap is currently under negotiation at $440/mt CFR Qasim. “This deal is not confirmed officially yet, but it is confirmed verbally, and so only formalities are left,” a market insider said.
Meanwhile, offers for ex-UK shredded scrap in containers have settled at $470-475/mt CFR, down by $40-45/mt week on week.