Pakistan steel mills have sharply increased domestic G-60 rebar offers post-holidays. The offers have risen by PKR 5,000/t exw Punjab and currently stand at PKR 142,000-143,500/t exw levels. The surge in international scrap prices has significantly affected the cost of production and due to a shortage of scrap, mills have decided to up rates, credible sources have reported to SteelMint. SteelMint’s assessment for containerized Shredded scrap has increased by $40-45/t m-o-m.
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