In Oct’24, Pakistan’s ferrous scrap imports increased by 16% m-o-m to 228,217 t from 197,421 t in Sep’24. In 10MCY’24, imports rose by 32% y-o-y to 2.2 mnt from 1.66 mnt in the same period of 2023. IMF’s approval of a $7 billion bailout package for Pakistan at the end of Sep’24 promoted economic stability and boosted market sentiments, resulting in increased confidence among buyers.
Pakistan’s ferrous scrap imports jump over 15% m-o-m in Oct’24
economic stability Ferrous Scrap imports ferrous scrap inventory decline ferrous scrap market trends ferrous scrap year-on-year increase IMF IMF approval $7 billion IMF bailout Pakistan inventory decline October 2024 scrap imports Pakistan Pakistan economic recovery Pakistan economic stability pakistan ferrous scrap imports Pakistan market boost Pakistan steel industry update scrap import growth Pakistan scrap import statistics Pakistan scrap imports increase Pakistan September-October