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19 May

Pakistan’s steel market stagnant, imported scrap offers hike

The political instability-induced deteriorating market sentiment has slashed offtake of semi-finished and finished steel in Pakistan, despite the fact that imported scrap prices have risen marginally. Limited transactions for imported scrap have been concluded to secure material to run operations and manage working capital; financing is still taking a week to ten days to process, sources tell Kallanish. According to sources, offers went up mainly on the back of …
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