Prices for shredded steel scrap imported into Pakistan and India diverged on Friday November 12; the latter weakened and halted purchases, sources told Fastmarkets.
Pakistan
Traders opted to sell their material into the Pakistan market during the week after the nearby Indian market underwent a downward correction, while Pakistan prices remained firm.
Fastmarkets calculated its weekly
steel scrap, shredded, index, import, cfr Port Qasim, Pakistan at $564.21 per tonne on Friday, up from $557.89 per tonne one week previously.
In the reported...