Pakistan’s imported scrap market has remained subdued over the past week, with buying activity slowing ahead of the Eid-ul-Adha holiday, officially scheduled in the country on May 26-28, 2026. Offers for import shredded scrap have softened slightly from last week’s range, but buyers have continued to target lower levels, while overall sentiment is still weak and most procurement appears to have already been completed before the holiday period.
More specifically, ex-UK/EU shredded scrap offers have been heard at around $420-425/mt CFR this week, compared to $423-430/mt CFR heard last week. According to sources, no significant fresh buying has been reported this week, while some mills had bought at around $420/mt CFR last week and are still trying to secure material at similar levels. “Most mills have already covered their immediate needs ahead of Eid and are now avoiding fresh bookings unless sellers accept lower levels,” a market insider told SteelOrbis.
Meanwhile, offers for ex-Malaysia shredded scrap have been voiced at around $440/mt CFR, while Pakistani buyers are reported to be showing more interest in shorter-transit routes due to the current instability.
In the Pakistani domestic market, activity has also slowed, mainly because of the upcoming Eid holiday, while regional tensions have continued to weigh on sentiment. Local scrap equivalent to shredded has been heard at PKR 147,000-156,000/mt ($531-562/mt) ex-warehouse, down by around PKR 5,000/mt ($18/mt) on the lower end of the PKR 152,000-156,000/mt ($546-560/mt) ex-warehouse range heard last week. Meanwhile, local 10-12 mm grade 60 rebar prices have been heard at PKR 245,000-250,000/mt ($884-902/mt) ex-works, remaining broadly in line with last week’s level, though some sources have indicated a slight upward bias. Market sources indicate that overall buying interest is likely to remain limited in the near term, as most procurement has already been completed ahead of the holiday period.
All prices on Pakistani rupee basis include 18 percent VAT.
$1 = PKR 278.56
