en.Wedoany.com Reported - This week, Pakistan's imported scrap steel market remained generally subdued, with no significant improvement observed after the Eid al-Fitr holiday. Affected by weak demand for finished steel products, low mill operating rates, and ample inventories, buyers continued to adopt a cautious, need-based procurement strategy. According to BigMint's assessment, the price of European-origin shredded scrap is approximately $420/ton CFR Qasim, up slightly by about $1/ton week-on-week.
Market participants revealed that compared to last week, transaction prices for shredded scrap from the UK or the EU were in the lower range, indicating weakened purchasing interest. It is reported that approximately 1,300 tons of UK-origin shredded scrap were traded at $414/ton CFR Qasim, while another 1,000 tons of cargo were transacted at $420/ton CFR. Current import offers for shredded scrap are mostly in the range of $420-425/ton CFR Qasim, but most buyers' target prices remain at $415-418/ton CFR. Although some inquiries emerged after Eid, steel mills have no urgent need to replenish inventories, resulting in sluggish overall transactions. A Karachi trader noted that the market showed no significant fluctuations after the holiday, with most mills still operating cautiously. Another market source pointed out that offers near $425/ton CFR are largely ignored, with buyers persistently bidding around $415/ton CFR, and post-holiday demand has fallen far short of expectations.
Domestic steel product prices largely maintained a range-bound pattern. Billet prices stand at approximately PKR 217,000/ton (around $780/ton), while Grade 60 rebar trades in the range of PKR 245,000-247,000/ton (around $880-887/ton). Local scrap steel prices are reported at PKR 148,000-150,000/ton (around $532-539/ton), and Bala grade scrap prices are around PKR 200,000-205,000/ton (approximately $718-736/ton).
Market participants estimate that overall corporate sales levels have only reached 30%, with steel mill capacity utilization remaining at around 30-35%, as construction activity and downstream steel consumption continue to be weak.
Looking ahead, Pakistan's imported scrap steel market is expected to remain sluggish in the short term. Weak steel demand, low mill utilization rates, and cautious market sentiment will continue to constrain the release of new orders. Although shredded scrap offers are currently around $420-425/ton CFR, buyers are likely to continue purchasing on a need basis unless there is a substantial improvement in domestic steel demand.
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