Scrap import offers to Pakistan trend up

Tuesday, 02 July 2019 23:29:19 (GMT+3)   |   San Diego
       

On June 25, SteelOrbis reported that offers for containerized shredded (shredded 211) scrap from the EU and UK to Pakistan were at $316-322/mt CFR.

Sources inform SteelOrbis that shredded scrap offers from the EU and UK to Pakistan are now trending up to $320-325/mt CFR, up $4/mt from the bottom of the previous range and $3/mt from the top of the same range.

Pakistan is expected to produce 7 million mt of steel in the fiscal year 2020 (March ended 2020), up 10 percent compared to 6.36 million produced in the fiscal year 2019. To meet production, the country is expected to import 5 to 5.5 million mt of ferrous scrap through the fiscal year 2020.

While Pakistan is undergoing some domestic economic challenges that are evident in its currency devaluation, the Asian Development Bank forecasted its GDP growth at 3.9 percent in its April 2019 publication.


Similar articles

Local Italian scrap market still sluggish, prices stable

29 Mar | Scrap & Raw Materials

Mexican domestic scrap prices

28 Mar | Scrap & Raw Materials

Carbon and stainless scrap prices in Taiwanese domestic market - week 13, 2024

28 Mar | Scrap & Raw Materials

Turkey’s deep sea scrap prices stabilize at $385-390/mt CFR

28 Mar | Scrap & Raw Materials

CISA: Coking coal purchase cost in China down 9.86% in Jan-Feb

28 Mar | Steel News

US scrap market still expecting sideways pricing in April

27 Mar | Scrap & Raw Materials

Ex-US deep sea scrap prices to Turkey increase, ex-EU prices relatively stable

27 Mar | Scrap & Raw Materials

Downtrend reverses in Pakistan’s import scrap segment

27 Mar | Scrap & Raw Materials

Average local Chinese scrap prices rise amid tight supply after previous decreases

27 Mar | Scrap & Raw Materials

Import scrap prices in India move up, but low bids prevent deals

27 Mar | Scrap & Raw Materials