Pakistan: Imported Scrap Market Remains Quiet Amid Limited Trades

Imported scrap market in Pakistan remained quiet with no major deals being reported this week.

Shredded 211 scrap offers to Pakistan from US are heard around USD 375-380/MT, CFR Pakistan. Offers are lower by USD 5/MT against previous assessment made in beginning of last week. Market participants mentioned offers retreated later last week and buying interest has remained low this week too.

Offers for HMS from UAE are assessed around USD 360/MT, CFR Pakistan.
However trade sources expect market sentiments to improve in the coming days as buyers will return to the market amid low inventories.

Ship breaking prices improved further in Pakistan. Prices for ship breaking now stood at USD 440/LDT for dry bulk cargo and USD 450/LDT, CFR for containers.