This week, global suppliers have been quoting scrap to Pakistan as usual in accordance with the developments in Turkey.
Specifically, with sentiments in the global scrap market having changed to negative after the lower-priced scrap deal in Turkey at the beginning of the current week, a few trades of shredded 211 scrap of European origin in containers have been fixed at $552/mt CFR to Pakistan, which is at least $8/mt lower than the offers voiced by suppliers last week. However, by the end of the current week, following the consolidation in the latest deal scrap prices in Turkey, suppliers are reported to be bullish again, aiming to get $555-560/mt CFR in the next bookings to Pakistan.