On February 7, SteelOrbis reported containerized shredded scrap offers from the UK and US to Pakistan trending at $358-360/mt CFR Pakistan. The range at the time decreased by $6/mt week-on-week due to creeping market uncertainty on Pakistan’s domestic steel market.
Sources now report that due to active interest in scrap imports, containerized shredded scrap offers from the UK and US have reached $375-385/mt CFR Pakistan. The prices have increased $17/mt from the bottom of the previous range and $25/mt from the top of the same range.