On June 20, SteelOrbis reported that offers for containerized shredded (shredded 211) scrap from the EU and UK to Pakistan were at $313-320/mt CFR.
Sources inform SteelOrbis that shredded scrap offers from the EU and UK to Pakistan are now reportedly ticking up to $316-322/mt CFR, up $3/mt from the bottom of the previous range and $2/mt from the top of the same range.
Pakistan is presently suffering from a depreciating currency. The economic challenge is expected to slow down scrap import buys due to the softer buying power of the local denomination.