Pakistan's ferrous scrap imports jump over 15% m-o-m in Oct'24

In Oct'24, Pakistan's ferrous scrap imports increased by 16% m-o-m to 228,217 t from 197,421 t in Sep'24. In 10MCY'24, imports rose by 32% y-o-y to 2.2 mnt from 1.66 mnt in the same period of 2023. IMF's approval of a $7 billion bailout package for Pakistan at the end of Sep'24 promoted economic stability and boosted market sentiments, resulting in increased confidence among buyers.