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14 Apr

Pakistan scrap intake increases on demand correction anticipation

Pakistani mills have increased their intake of scrap, mainly on the back of a surge in finished steel demand after the Eid holidays. This follows local scrap getting more expensive due to a supply shortage over imported scrap, sources tell Kallanish. Letters of credit (LC) issuance has improved considerably; however, sources claim only a limited number of mills are able to open LCs, mainly those that have other export businesses. According to sources, offers for …
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