On January 26, SteelOrbis reported ex-UK containerized shredded scrap offers to Pakistan at $365-370/mt CFR.
Sources inform SteelOrbis that imported offer prices from the UK to Pakistan on containerized shredded scrap have narrowed down and are presently at $364-366/mt CFR. The new range represents a decline of $1/mt from the bottom of the previous range and $4/mt from the top of the same range.
Additionally, ex-US offer prices on containerized shredded scrap are reportedly trending closely with UK offers at $362-366/mt CFR Pakistan. A source noted that offer prices are “holding in the region despite some downward import price movements in Turkey due to demand in the South Asian region, additional potential scrap volume needs as 2018 Indian budget plans are rolled to the public, and due to market uncertainty that may have sellers wait until after the return of the Chinese traders post the Chinese New Year break prior to making further downward adjustments.”