Prices for shredded steel scrap imported into Pakistan fell in the week to Friday October 1, while Indian scrap prices stabilized after a mid-week change in sentiment for both markets, sources told Fastmarkets.
Pakistan
Fastmarkets calculated its
weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan at $508.69 per tonne on Friday, down from $520.32 per tonne one week previous.
Prices dropped at the start of the week, with deals reported at $505-508 per tonne, before increasing to $512-514 per tonne mid-to-end of the week, and offers as high as $515-520 per tonne.
This compares to a $515-520 per tonne deal level last week. Mills were said to be bidding as low as $500 per tonne, which one trader said described as "ambitious."
"Let them be...