Tag: Pakistan: Strait of Hormuz sinking of Qasim-bound vessel puts 30000 t of Middle East-origin scrap at risk

Around 30,000 t of scrap reportedly lost, including 1,100 containers UK/EU shredded offers rise to $415/t as buyers seek alternatives The sinking of a Dubai-operated, Singapore-flagged container vessel in the Strait of Hormuz has disrupted shipments of steel scrap destined for Pakistan. Market sources estimated that around 30,000 tonnes (t) of scrap were loaded in…