Two More Bulk Scrap Import Vessels to Arrive in Pakistan

According to vessel line-up data maintained with SteelMint, two more bulk ferrous scrap import vessels are expected to arrive in Pakistan soon.

As per trade sources report, about 3-4 bulk scrap import vessels were booked from Pakistan in May’17.Upcoming vessels are anticipated to be two of them.

After arrival of 1st & 2nd bulk vessels called ‘MV Daiwan Fortune’ towards end of Jun’17 and ‘King Island’ in 1st week of Jul’17, two more bulk vessels are to arrive at Pakistan ports shortly.

Vessel named ‘Faut Bey’ carrying 34,500 MT scrap from USA is expected to arrive at Karachi port on 16 Jul’17. The 4th bulk vessel named ‘Elsabeth C’ loaded from UK with 24,090 MT scrap is expected to arrive on 18 Jul’17 on Karachi port.

With these two upcoming vessels, total ferrous scrap thus, unloaded so far in Pakistan in CY17 will be summed up to 107,030 MT.

Pakistan is looking further to be a notable scrap importer as demand is high but recent currency devaluation in the Pakistan has slowed down the imports and has affected the market in Pakistan for now.

Pakistan bulk scrap imports in CY17

Quantity in MT
Provisional data
Source: SteelMint Stats, Customs

Pakistan scrap offers overview – Presently offers for containerized Shredded scrap from UK are around USD 313-315/MT, CFR and that for HMS are hovering around USD 295-297/MT, CFR basis.

Pakistan Steel Scrap Imports to Rise on Increasing Steel Production – Mr Khurram Javaid, chief executive officer and director at Mughal Iron & Steel Industries Ltd, one of Pakistan’s largest steel producers at 1.1 MnT and also one of the largest steel scrap importers in a telephonic interview shared that Pakistan’s steel demand is expected to grow by 25-30% Y-o-Y which will further raise scrap imports to the country.