India, Pakistan steel scrap prices dip after sentiment weakens

Prices for shredded steel scrap imported into Pakistan and India moved downward on Friday December 3, as weak sentiment enveloped the market, sources told Fastmarkets.

Fastmarkets calculated its weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan at $556.42 per tonne on Friday, compared with $559.37 per tonne a week earlier.
The majority of deals heard this week were at $555-560 per tonne, in addition to two deals heard at $550 per tonne, down from $558-565 per tonne the previous week.

“Sentiment has changed and customers have gone quiet. They dropped their bid prices by $5 per tonne but couldn’t secure tonnages,” a...


Carrie Bone

December 03, 2021

16:08 GMT