Imported ferrous scrap offers in Pakistan continue to remain on the same level this week.
As per assessment offers for UK and Dubai origin HMS 1&2 stood around USD 320-325 /MT, CFR Port Qasim.
Offers for containerized Shredded scrap from UK, USA as well as Australia origin adhere to almost same level as that of last week and assessed in the range of USD 340-350 /MT, CFR Port Qasim.
Presently, most of the participants are using scrap from inventories available with them which has prevented them from making fresh bookings.
Everyone is waiting to look for the change in the market after Eid festival, till then market is expected to remain quiet-a Pakistan based market participant said.
Market participants also heard some unconventional offers even from the Chinese Scrap market in this week. “I was offered Chinese cargo of 10,000 MT Shredded scrap material at an average price of USD 345 /MT but I didn’t accept it owing to enough inventory available to me right now.”-a buyer from Pakistan added.
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