Imported ferrous scrap offers to Pakistan have come down this week following declining trend in global scrap prices.
A deal was heard to have concluded of 5,000 MT Shredded scrap from UK at USD 325/MT, CFR port Qasim.
Thus, the latest offers assessed for UK origin Shredded scrap are slightly down at USD 325-330/MT, CFR than the last week’s assessment of USD 330-335/MT, CFR. Offers are down by USD 5-10/MT than the levels at which bookings were confirmed last week.
However, offers for Dubai origin HMS remained most stable on W-o-W basis at USD 305-310/MT, CFR port Qasim.
A buyer from a leading steel mill in Pakistan shared with SteelMint that-“Overall prices are going down right now and looking to go down further in coming days.”
Last week, Mughal Steel – was heard to have bought a cargo from USA comprising around 25,000 MT Shredded and 5,000 MT HMS.
Global scrap prices have come down this week. Offers for US origin HMS 1&2 (80:20) assessed now at USD 305/MT, CFR Turkey. While Shredded scrap assessed at USD 330-335/MT, CFR Chittagong and USD 315-320/MT, CFR Nhava Sheva.
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