Pakistan: Bulk HRC import volumes fall by 47% m-o-m in Feb’23

Pakistan’s bulk HRC import volumes in Feb’23 fell by 47% m-o-m to 15,882 t against 29,794 t in Jan’23, as per data maintained with SteelMint. Political instability in the country has primarily weighed on demand ultimately pulling down import volumes. Furthermore, due to concerns around limited forex reserves the opening of Letters of Credits (LCs) has become a “major challenge”, highlighted sources.