Imported scrap prices in Pakistan remain almost unchanged this week against the previous assessment made last week.
Latest offers for containerized Shredded 211 from USA are around USD 365/MT, CFR Port Qasim. Last week few thin trades for Shredded scrap were concluded at around USD 365-370/MT from USA in Pakistan. Thus, price assessment remains almost stable over the last weeks’ assessment which was around USD 365-370/MT, CFR Pakistan.
Offers from traders based in UK and Europe for Shredded scrap remain slightly above in the range of USD 370-373/MT, CFR Qasim. However, No major deal reported till now in this week over the expectations for further price correction.
Bulk Shredded scrap offers to Pakistan are hovering around USD 372-375/MT, CFR Pakistan which has shown sharp fall against USD 390/MT level prevailing in the last assessment.While Ship breaking prices remained at USD 440/LDT for dry bulk cargo and USD 450/LDT, CNF Pakistan for containers with no sale reported.
Scrap inventories in Pakistan are limited and buyers seem to import more scrap volumes in coming days. Major scrap importer in Pakistan is eyeing for booking bulk cargo, however, buying interest remains slightly below than current offer levels amid market volatility.
Global scrap prices fell further in recent deals reported, following which most of the suppliers have shifted to offer bulk cargoes to Asian countries. Current price assessment for USA origin HMS 1&2 (80:20) scrap is at USD 348/MT, CFR Turkey.However, importers from Turkey turned silent with no deal reported in the middle of this week.
Leave a Reply