Tag: Pakistan: Imported ferrous scrap prices dip $3/t w-o-w in bearish steel market

Imported ferrous scrap prices in Pakistan saw a $3/tonne (t) drop over last week, as steelmakers remained bearish about procuring raw materials at higher prices amid weaker sales in the rebar and billets markets. Local scrap prices also remained downward with sluggish demand from manufacturers amid production cuts. Current market activity for shredded scrap remains…