Amid restocking activities, Pakistan based steel mills have continued to book imported scrap vessels aggressively. Imported scrap price assessment to Pakistan has observed marginal increase of around USD 5/MT W-o-W.
Shredded scrap offers from UK & Europe in containers to Pakistan are around USD 335/MT, Port Qasim and deals are getting concluded at USD 333-335/MT, CFR.
Offers for Dubai origin HMS is presently around USD 310-315/MT, CFR against last week’s assessment of USD 308-310/MT, CFR.
Amid restocking scrap demand continues to be on the higher side in Pakistan.
Smog is creating problems in major areas in Pakistan like Punjab, Faisalabad etc since last two weeks following which provincial government is taking strict measures to control it and pollution causing units have been stopped.
A market participant shared “though most of the furnaces have been forcefully shutdown by environmental control authorities due to heavy smog in Punjab sector so billets supply is expected to remain slow and billet prices are rising”.
Leave a Reply