Pakistan’s ferrous scrap market remained stagnant again in week 31 and no fresh bookings for imported scrap were heard.
The offers for containerized Shredded Scrap were moved upward and remained lifted throughout the week by USD 4-5 /MT compared with the offers of the previous week. Offers of Shredded scrap of UK origin are assessed at USD 315-317/MT, CFR port Qasim.
Pakistan based scrap importers to resume booking in early Aug – In recent conversation with a steel maker SteelMint learned that Pakistan based steel mills are having sufficient inventory for next 10-15 days. The market is expected to roll back again with buying and restocking activities by around 10th august.
Ferrous Scrap Imports in Pakistan raising steadily:
Ferrous scrap imports to Pakistan is increasing in line with country’s rising crude steel production. Pakistan’s crude steel output was recorded at 2.32 MnT in H1 CY17 against at 1.75 MnT in the same period of 2016.
According to vessel line up statistics of SteelMint, total 152,470 MT ferrous scrap has unloaded so far in CY17.
|
Vessel Name |
Origin | Quantity |
Date |
| MV Daiwan Fortune | Vancouver,USA | 27,440 MT | 23 Jun’17 |
| King Island | Providence,USA | 21,000 MT | 6 Jul’17 |
| Faut Bey | Richmond, USA | 34,500 MT | 21 Jul’17 |
| Elsabeth C | Liverpool, UK | 24,100 MT | 19 Jul’17 |
| Atlantic Ace | USA | 27,400 MT | 17 Jul’17 |
| Pacific Venus | Australia | 18,030 MT | 25 Jul’17 |
Provisional data
Source: SteelMint Stats
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