Pakistani Steel manufacturers cheer as the government has imposed up to 15% duty on import of Billet, Bar and Wire Rod to check steel dumping in the country.
Pakistan government has imposed 15% duty on import of Billet, Bar and Wire Rod along with 5% duty on imported Cold Rolled Coils (CRC) and Galvanized Plated Sheets. Whereas, Hot Rolled Coils (HRC) have been exempted from any import duty.
Imported Scrap Offers up in Pakistan
Imposing import duty has brought cheer for Scrap exporters as prices have gone up due to rise in domestic prices. According to Scrap exporters, HMS 1&2 is being offered at USD 330/MT, CIF Pakiastan, which is USD 15-20/MT higher than India or any other South East Asian country.
Bulk Ship Breaking Prices also move up
Bulk ship breaking market also noticed some sort of optimism from the buyers on anticipation that increase in duty will support domestic prices. General cargo prices are assessed at USD 390/lt ldt and Tanker cargo at USD 420/lt ldt, CIF Pakistan.
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