Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Pakistan’s ferrous scrap imports in November stood at 381,891mt, down by 7.13pc as compared to 411,228mt in October, however, rose by 14.50pc from 333,526mt the same month year prior, according to data released by the Pakistan Bureau of Statistics (PBS).


In November, ferrous scrap bookings were slow as finished steel demand remained under pressure. Imported ferrous scrap prices had risen following global cues and exporters from the US stayed away from the market owing to the Thanksgiving holidays.


Apart from that, European suppliers had limited scrap imports to Pakistan due to the second wave of the COVID-19 and restrictions hampered logistics. Few shipping lines had also canceled orders or deferred deliveries due to container shortage in November.


In the July-Nov, 2020 period, the country’s ferrous scrap imports increased by 30.74pc to 2.2mn mt as compared to 1.6mn mt in the prior-year period.


Leave a Reply

Your email address will not be published.