26
Jul
15:43
Pakistan rupee devaluation, weak demand give mills dilemma
The Pakistani rupee has devaluated to an all-time low against the dollar, clocking at PKR 233.26/USD on 26 July. This marks a steep drop in the last decade, from PKR 94/USD in July 2012, Kallanish notes.
This has further impacted the already shaken Pakistani scrap importers, who are coping with scrap shortages and prevailing falling sentiment in the nation.
Kallanish assessed UK- and EU-origin shredded scrap offers at $450-452/tonne cfr Port Qasim last Friday. Su…
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Anonymous
Very good overview of the weekly steel market.
Anonymous