Import scrap prices largely stable in Pakistan, but bids keep falling amid slow trade

Thursday, 02 May 2024 15:51:55 (GMT+3)   |   Istanbul
       

Import scrap prices in Pakistan have remained largely unchanged over the past week, while most buyers have preferred to shy away from concluding new deals amid slow end-user demand and ongoing payment issues in the country.

More specifically, offers for ex-EU/UK shredded scrap in containers have settled at $425/mt CFR, the same as last week, while the gap between offers and bids has been around $5/mt. According to sources, following deals at $428-430/mt CFR at the beginning of last week, by the end of last week and the beginning of this week materials changed hands at $423-427/mt CFR, totaling around 4,000 mt. “Currently, most bids are estimated at $420/mt CFR, with very few transactions reported in the market,” a Pakistani trader told SteelOrbis.

Meanwhile, offers for ex-Middle East HMS grade scrap in containers have been heard at $410/mt CFR, against $405-410/mt CFR last week.

In the local market in Pakistan, offers for local rebar 10-12 mm of grade 60 have been reported at around PKR 250,000/mt ($898/mt) ex-works, down by PKR 1,000-3,000/mt ($4-11/mt) week on week, while offers for local scrap equivalent to shredded have remained at PKR 155,000-160,000/mt ($557-575/mt) ex-warehouse, the same as last week.

All prices on Pakistani rupee basis include 18 percent VAT.

$1 = PKR 278.37


Similar articles

Boston dock delivered HMS I/II 80:20 scrap prices updated for November

02 Nov | Scrap & Raw Materials

Boston dock delivered P&S scrap prices updated for November

02 Nov | Scrap & Raw Materials

Dock delivered prices for P&S scrap in New York updated for November

02 Nov | Scrap & Raw Materials

Dock delivered prices for HMS I/II 80:20 scrap in New York updated for November

02 Nov | Scrap & Raw Materials

Philadelphia dock delivered HMS I/II 80:20 scrap prices updated for November

02 Nov | Scrap & Raw Materials

P&S dock delivered scrap prices in Philadelphia updated for November

02 Nov | Scrap & Raw Materials

US hot-rolled coil pricing largely flat on the week following recent spot market slump

01 Nov | Flats and Slab

Some Turkish mills revise their domestic scrap purchase prices

01 Nov | Scrap & Raw Materials

Global View on Scrap: Turkey’s import market may have hit bottom, Asia struggling for stability

01 Nov | Scrap & Raw Materials

US November scrap prices now seen sideways to potentially lower as multiple mills cancel orders

01 Nov | Scrap & Raw Materials