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...