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05 May

Pakistan scrap plunges dramatically amid falling global sentiment

Imported scrap offers in Pakistan plunged last week amid sliding global scrap prices, coupled with the prevailing sluggishness in Pakistan's domestic market. Bids are falling daily, and deals are happening just on a hand-to-mouth basis, meaning buyers prefer booking small quantities to run their operations, sources tell Kallanish. "Sentiment in Pakistan is not so good; steel offtake is slow, and power tariffs are hiked," a source informs. "Local…
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