On December 18, SteelOrbis reported that offers for containerized shredded (shredded 211) scrap from the EU and UK to Pakistan ticked down to $325-330/mt CFR on end-of-year market conditions and the global scrap trend.
Sources inform SteelOrbis that imported scrap prices to Pakistan from the EU and UK remain stable on an inactive market as importers take a wait-and-see stance while some sellers refrain from active offers. A source noted that import scrap activity may receive some support from “what may be the beginning of improved local steel prices in Pakistan as we head into January.”