According to vessel line-up data maintained with SteelMint, one more bulk ferrous scrap import vessel is expected to berth in Pakistan today (19th Jul’17) on the Karachi Port in Pakistan.
Pakistan has sharply raised its ferrous scrap imports in CY17. Prior to this 4 bulk import vessels reported at the Karachi port so far in CY17 and have unloaded total 107,030 MT ferrous scrap.
The upcoming vessel named-‘Atlantic Ace‘ was booked from USA and anticipated to be one of the 4-5 bulk vessels which were booked in May’17. Atlantic Ace loaded with 27,400 MT ferrous scrap is expected to arrive at berth today.
Thus the total ferrous scrap imports to the nation so far in CY17 will be summed, to 134,430 MT.
According to trade sources in Pakistan country’s steel demand is increasing because of the various infrastructure projects lined up-mainly the coal based power projects and dams.
Recent statistics revealed by Pakistan Steel Association estimates that the total projected scrap imports to grow to 5-6 MnT in FY18.
Leave a Reply