On February 27, SteelOrbis reported that offers for containerized shredded (shredded 211) scrap from the EU and UK to Pakistan were down at $325-332/mt CFR.
Sources inform SteelOrbis that imported shredded scrap offer prices have increased over the month and are now reportedly at $340-345/mt CFR, up $15/mt from the bottom of the previous range and $13/mt from the top of the same range. A source noted an increase of approximately $5/mt achieved through the past week as Pakistan scrap importers increased inquiries. A stronger domestic steel market and improved local steel prices are reportedly providing support for scrap import activity.