Prices for scrap in Pakistan have increased again this week in line with the global trend: however, overall demand is reported to be quite limited. “The market is depressed due to heavy rains and the flood situation in Pakistan. Sentiments are expected to change later in the week with weather going to get better,” a Lahore-based scrap dealer commented.
Accordingly, prices for shredded scrap of European origin in containers are at $315-320/mt CFR, up $6-7/mt compared to the level voiced in the previous week. SteelOrbis has been informed of a few bookings done at $315-317/mt CFR recentlly.