On January 3, SteelOrbis reported that offers for containerized shredded (shredded 211) scrap from the EU and UK to Pakistan were at $320-330/mt CFR.
According to sources, ex-EU and ex-UK containerized shredded scrap offers have decreased to $318-325/mt CFR, down $2/mt from the bottom of the previous range and $5/mt from the top of the same range. The decline in import scrap prices is attributed to the global scrap price movements. A source noted that the local Pakistani steel market is trending stable and expected to show improvements over the month as construction activity rebounds post end of year financial audits and seasonal lull.