Pakistan’s leading steel mills increased domestic G-60 rebar prices by a steep margin today due to continuous upsurge in scrap import prices. Offers have risen by PKR 3,000/t, exw Punjab, and are currently at PKR 144,000-145,000/t, exw-Punjab, sources informed SteelMint. However, transactions are yet to be reported at the increased offers. SteelMint’s assessment for imported shredded scrap in containers of UK/Europe origin has increased by $ 30-35/t m-o-m.
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