Pakistan steel demand is down due to cold and foggy weather, owing to which steel prices were noted reportedly down on-week. The domestic market has witnessed a sharp influx of illegally imported rebar from neighbouring Afghanistan and Iran, which has led to chaos in the retail market.
Imported shredded scrap offers in Pakistan are hovering at $540-550/tonne cfr Port Qasim this week. Pakistan mills were heard booking 2,000 tonnes of UK-origin shredded scrap at $55…
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