Prices for shredded steel scrap imported into Pakistan and India took a sharp upturn in the week to Friday October 8, on a pick-up in demand, sources told Fastmarkets.
Pakistan
Fastmarkets calculated its
weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan at $ 535.07 per tonne on Friday, up from $508.69 per tonne one week previous.
Deals were initially heard at $530-535 per tonne before increasing to $538-540 per tonne by the end of the working week, with offers reaching $545 per tonne.
This compares to a deal level of $505-514 per tonne and offers at $515-520 per tonne last week.