Following the gradual decline in offers each day, prices of import shredded scrap in containers in Pakistan have declined by around $25-35/mt within the past week, falling in most cases to $405-415/mt CFR Qasim levels. Meanwhile, most Pakistani buyers are not in a hurry to conclude any bookings, opting to wait for a clearer situation in the international raw material and steel markets. “Companies are expecting prices to fall further, so buyers are waiting for them to come below $400/mt CFR,” a representative of a local re-rolling mill stated. One Pakistan-based trader reported the recent booking of a lot of shredded 211 scrap of European origin in containers at $395/mt CFR. However, all other market sources doubt there are any more valid offers at this level now. “As of today, I have just one opened offer at $400/mt CFR, and so the booking at $395/mt CFR would mean some trader cutting loose,” a representative of a key longs mill in Pakistan commented.