According to statistics from the Pakistan Bureau of Statistics (PBS), Pakistan imported around 238,000 tons of scrap in October this year, rising by 19% compared to the previous month and by 22.4% from the same month a year ago.
The import value of scrap during the period was approximately US$108 million, a month-on-month increase of 17.7% and a year-on-year drop of 8.5%.
Due to low steel demand in the domestic market and fluctuations in the exchange rate of the Pakistani rupee against the US dollar, Pakistan’s steel mills foresaw a drop in scrap import prices.