Prices for shredded steel scrap into Pakistan and India continued to diverge on Friday August 20, with demand in India slowing down during the monsoon season, while there was active trading in Pakistan, sources told Fastmarkets.
Pakistan
Fastmarkets calculated its
weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan at $ 539 per tonne on Friday, up from$532.37 per tonne.
The Ashura public holiday in Pakistan slowed trading on Wednesday and Thursday, with market participants returning to the market on Friday.
Rebar producers Amreli Steels and Agha Steel industries closed their order books and took no new bookings during the holiday period.
Multiple deals were heard at around $540 per tonne through the week, however, with offers as...