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24 Mar

Pakistan imported scrap offers plunge amid global slowdown

Muted sentiment in Turkey and India has spurred European and UK scrap sellers to drop their offers in Pakistan. Despite the drop, buyers have reduced intake due to the Ramadan-led market slowdown and delayed financing in Pakistan. There is an anticipation that prices will drop in the coming weeks, sources tell Kallanish. According to sources, offers for UK- and EU-origin shredded scrap dropped remarkably, by $20-25/tonne on-week to $470-475/t cfr Port Qasim on Fri…
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