Owing to the sluggish sentiment prevailing in Pakistan, coupled with delayed financing, the country’s scrap and steel imports plummeted drastically in the fiscal year ended 30 June 2023 (FY23).
Furthermore, the devaluating Pakistani rupee, political instability and dwindling steel demand also pressured mills to reduce intake of the feedstock last year.
Pakistan imported 2.2 million tonnes of scrap in FY23, down 43.45% on-year against 3.89mt a year earlier, …
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