Tag: GBP-USD conversion impact
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Pakistan: Imported scrap prices inch down w-o-w amid heavy rains, currency pressure
Heavy rains hit construction; Bala makers face deeper stress UAE shredded quoted higher, limits mills’ buying appetite Pakistan’s imported scrap market edged lower w-o-w, weighed down by weak GBP-USD conversion, heavy rainfall, and prevailing bearish steel market sentiment. BigMint assessed European/UK-origin shredded at $371/tonne (t) CFR Qasim, inching down by $1/t w-o-w. As per a…