On December 20, SteelOrbis reported ex-UK shredded containerized scrap offers stable at $355-362/mt CFR Pakistan. Prices at the time were expected to remain stable through the year with limited interest.
Sources inform SteelOrbis that ex-UK shredded containerized scrap offers have increased and are reportedly at $365-370/mt CFR Pakistan. The new range represents an increase of $10/mt from the bottom of the previous range and $8/mt from the top of the same range. Small trades to the region have been heard in the market over the past few days despite global scrap prices rising, therefore, providing further support for potentially higher offer prices early in January.