Tag: Pakistan: Imported shredded scrap prices rise $7/t w-o-w on higher freight

Mills maintain only 35-40% capacity utilisation UK, Europe offers edge up on increased freight rates Pakistan’s imported ferrous scrap market rebounded during the 21 July as rising freight costs, renewed geopolitical tensions around the Strait of Hormuz, and improving buying interest for prompt cargoes lifted import prices. However, weak domestic steel demand and the ongoing…