Tag: Pakistan: Imported scrap prices rise after reported scrap vessel sinking in the Strait of Hormuz

Market sources expect a further $5-10/t increase if UAE supply disruptions persist Domestic scrap prices remain stable amid low mill utilisation Pakistan’s imported scrap market strengthened in the week ending 19 October following a vessel sinking that disrupted scrap supply from the UAE. UK/EU-origin shredded scrap rose to $420-422/t CFR Qasim from $409-412/t last week…