16
Sep
14:02
Pakistan imported scrap crashes amid low demand, sentiment
Pakistan’s steel market is dealing with the aftermath of severe flooding, with many furnaces still closed and finished steel demand yet to pick up. Banks also have limited US dollar supply, meaning mills are unable to open letters of credit to buy imported materials. These factors have seen imported shredded scrap offers plunge, Kallanish notes.
Earlier last week, scrap import offers plummeted to $440-447/tonne cfr Pakistan. Sources say that big mills are ou…
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Anonymous
Very good overview of the weekly steel market.
Anonymous