Pakistan’s ferrous scrap imports rose by 26.5pc in December to 4,73,601mt from the prior year, while it increased 23.8pc from November, according to official data. Ferrous scrap imports were 382,561mt in November.
Scrap importers in Pakistan resumed restocking activities in November and early December amid a ramp up in steel production. Demand for steel recovered after remaining weak in the early days of the COVID-19 pandemic. Auto demand and infrastructure projects under CPEC and Naya Pakistan Housing scheme too showed signs of revival. In the second half December, scrap import bookings slowed amid New Year Holidays in supplier countries. This is expected to lower ferrous scrap import volumes in January.
|Pakistan’s steel imports in December (mt)|
|Dec-20||Dec-19||Change MoM||Change YoY|
|Iron & steel||2,01,414||1,86,208||-41.4pc||8.17pc|
Import of Iron and steel rose to 2,01,414mt in December, up by 8pc from a year ago, while it fell by 41.4pc from November. The decline from a month ago can be due to slow down in manufacturing and construction activities amid harsh winter in some regions. Iron and steel imports were 343,692mt in November.