Scrap import prices to Pakistan up

Tuesday, 12 February 2019 23:11:57 (GMT+3)   |   Sao Paulo

On February 6, SteelOrbis reported that offers for containerized shredded (shredded 211) scrap from the EU and UK to Pakistan were at $335-342/mt CFR and that containerized shredded scrap offers from other destinations such as Africa or the Middle East could be found at $330-335/mt CFR.

Sources now inform SteelOrbis that offer prices have increased in line with the global scrap market, and shredded scrap offers from the EU and UK to Pakistan are now at $340-347/mt CFR, up $5/mt. Offers from other destinations also increased to $333-340/mt CFR, up $3/mt from the bottom of the previous range and $5/mt from the top of the same range. A source noted that given the rapid price surge of scrap, DRI, and iron ore, buyers are limiting deals seeking to confirm the long-term status of the new price levels, especially the ability of Turkish mills to sustain the higher scrap buying prices recently established.

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