While shredded import scrap offer prices in Pakistan are trending upward, trading volumes remain limited as buyers show little appetite and logistics remain a challenge. At the same time, according to sources, persistently elevated freight costs continue to restrict the flexibility of Pakistani buyers, weighing on short-term trade activity.
More specifically, offers for ex-Europe/UK shredded scrap in containers have been voiced mainly at $385-390/mt CFR, against $375/mt CFR last week. According to sources, most bids are still coming at around $375-378/mt CFR.
“Mills are facing extra freight charges of around $10/mt and slightly above amid disruptions to standard shipping routes. Indian port restrictions have prompted vessels destined for Pakistan to reroute through Sri Lanka or the UAE, increasing both transit times and costs. As a result, shipments to Karachi are now being completed via shuttle services from transshipment hubs like Colombo and Jebel Ali,” a market insider said.
Meanwhile, local prices of scrap equivalent to shredded in Pakistan have settled at around PKR 135,000-140,000/mt ($479-496/mt) ex-warehouse, mainly the same as last week. Besides, the tradable level for local 10-12 mm rebar of grade 60 has been heard at PKR 238,000-242,000/mt ($845-859/mt) ex-works, up by PKR 2,000-3,000/mt ($7-11/mt) week on week.
All prices on Pakistani rupee basis include 18 percent VAT.
$1 = PKR 281.81