10
Mar
14:52
Delayed financing continues to dampen Pakistan scrap imports
The months-long issue of delayed financing continues to kill imports of scrap in Pakistan. Steel mills are in dire need of scrap to run their operations, but due to delayed financing, they are unable to procure materials, and many are on the verge of closure.
Although old letters of credit (LCs) are being processed now, the issuance of new LCs is still taking two to three weeks and scrap trading reduced significantly last week, sources tell Kallanish.
Despite the…
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Anonymous
Very good overview of the weekly steel market.
Anonymous