The mounting uncertainty as regards the future developments in the global #steel market, caused by the slump in #ironore prices and, in particular, the weak sentiments in the Turkish #scrap market, have made Pakistani buyers more persistent in asking for discounts when negotiating new scrap bookings. As a result, by the end of the current week the tradable level for import shredded 211 scrap of European origin in containers to Pakistan has been hardly higher than $520-525/mt CFR Qasim, down $20-25/mt compared to the offers voiced in the previous week. Some suppliers are said to be ready to sell material even lower, at $515/mt CFR Qasim.
