On April 24, SteelOrbis reported ex-EU offers on containerized shredded scrap at $390/mt CFR Pakistan. Sources report that while Turkish import prices “did trend down some over the past month,” scrap import offer prices to Pakistan from the EU remained stable. A source noted that the strong steel market in Pakistan because of the domestic economic growth has required a consistent flow of imported scrap volumes, “which has supported prices.”
On inquiring why more scrap buys are heard in the market from the EU and not the US, given the export excess volumes at the moment, a source noted that he has received limited offers from the US, EU/UK logistics are well-established with Pakistan given their long trading history, and due to road weight limits of truck containers in the US, they are 20 feet instead of the preferred 26 feet from the EU region.