29
Sep
15:30
Pakistan scrap offers fall amid domestic market sluggishness
The recovering Pakistani rupee versus the dollar has cautioned finished steel buyers in Pakistan. Buyers are anticipating the currency appreciation could bring the cost of raw materials down and, as a result, prices of finished steel will also drop. Offtake of steel has therefore dropped severely.
Furthermore, worsening sentiment is worrying steel mills in the nation, which have reduced their intake of scrap until they get clarity on market direction, sources tell…
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Anonymous
Very good overview of the weekly steel market.
Anonymous