27
Jan
13:11
Pakistan scrap surges despite delayed financing, currency depreciation
Prolonged financing delays and dollar shortages continue to haunt the Pakistan steel industry, and the Pakistani rupee devaluation has further worsened sentiment. Trade volumes have consequently shrunk remarkably, and most mills are experiencing acute shortages of raw materials, sources tell Kallanish.
The Pakistani rupee fell to PKR 260/USD in interbank transactions, whereas it dropped to PKR 268/USD in the open market.
Most buyers have imported scrap via telegr…
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Anonymous
Very good overview of the weekly steel market.
Anonymous