Imported scrap market in Pakistan has remained quiet so far but trade sources are hopeful for trade activities to pick up. Market participants highlighted that buyers will return to the market in coming days this week as inquiries have increased.
Price assessment for Shredded scrap 211 is around USD 385-390/MT, CFR Port Qasim depending on the origin. Previous week’s assessment was at USD 388-395/MT, CFR. Thus offers have come down marginally by USD 5/MT W-o-W.
However buying interest is seen at USD 5/MT lower than current offers. It seems that buyers have adopted to remain silent and are waiting for the offers to match their expected levels.
Offers for HMS 1 in containers from UAE assessed in the range of USD 378-380/MT.
Ship breaking prices in Pakistan fell against last week and are at USD 435/LDT for general dry bulk cargo and at USD 450/LDT for containers on CNF Pakistan basis.
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