On May 28, SteelOrbis reported that offers for containerized shredded (shredded 211) scrap from the EU and UK to Pakistan were at $328-335/mt CFR.
Sources inform SteelOrbis that shredded scrap offers from the EU and UK to Pakistan are now reportedly at $313-320/mt CFR, down $15/mt from the bottom of the previous range and $15/mt from the top of the same range.
Sources inform SteelOrbis that domestic prices are encountering an inflationary effect as the PKR currency has depreciated. PKR per dollar has been between 139 to 142 through the first 4.5 months in 2019 but began to increase in mid-May and the currency exchange is now PKR 157.13 per dollar.