Tag: Pakistan: Imported ferrous scrap index rises by $3/t w-o-w; steel market under pressure amid rising operational costs

Pakistan’s imported ferrous scrap index rose by a marginal $3/tonne (t) w-o-w amid higher offers from both the UK, ($428-430/t) and the UAE ($432-435/t). Buyers remained active with higher number of inquiries at $410-420/t levels but were cautious amid weak demand from end-users. Market participants said that UAE-origin inquiries are slow due to increased Customs…