07
Apr
17:06
Pakistan imported scrap bookings cease on rupee devaluation
The devaluation of the Pakistani rupee against the dollar has created havoc for Pakistani imported scrap bookings. Sluggish domestic demand and surging scrap prices have pressured mills into completely ceasing scrap bookings for now, Kallanish notes.
On Thursday, one dollar equated to PKR 189,000, appreciating by around PKR 5,000 on-week.
A deal for 1,500 tonnes of US-origin shredded scrap was heard concluded at $650/tonne cfr Port Qasim earlier this week; howeve…
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Anonymous
Very good overview of the weekly steel market.
Anonymous