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22 Sep

Pakistani scrap importers test bottom amid sluggish sentiment

Pakistani scrap importers are consecutively dropping their bids on the back of slowing domestic demand and the appreciating Pakistani rupee versus the dollar. Offers have also come down; however, mills are pointing to poor domestic rebar sales and trying to push through scrap deals at low prices, sources tell Kallanish. Offers for UK- and EU-origin shredded dropped by $5-7/tonne on-week to $429-435/tonne cfr Port Qasim last week. Earlier in the week, sellers trie…
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Sayed Aameer  |  India
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