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Fluctuations prolongs in steel scrap prices and imports

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by - 10/27/2012 7038 Views

Pakistan’s steel and Iron scrap import slips compared to prior imports made this year. Tokyo steel on the contrary cut short its steel scrap prices for the 14th time

As of now steel scrap prices CNF Europe, falls between USD 365 to per ton-USD 375 per ton. With not much difference the steel prices in USA subsists USD 375 per ton-USD 380 per ton. At the same time as the winter approaches shortage of scrap is anticipated. Turkey which has now constrained its customary buying will indubitably repossess its position with the forthcoming winter.

Pakistan Federal Bureau of Statistics disclosed the import statistics of the country that shows around 1.81% fall in the import of steel scrap to that compared with the import made in the month of August. To be precise, around 144,200 tons of steel scrap was imported by Pakistan in the month of September. It is estimated that about 9.33% loss has been incurred in September in comparison to October which means that the value of steel scrap import made in the month of September is likely $ 50 million. On the whole, Pakistan’s iron and steel scrap import is fragile compared to the same period of 2011.

It has now been the 14th time that Tokyo Steel Manufacturing Co. Ltd. has reduced its buying prices since August but this time the prices has been reduced drastically by $12 per ton. Such fluctuating circumstance in steel scrap market continues to be a fret for the scrap businesses.

Category : Metal

Tags : steel scrap, iron scrap, scrap price

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About Sangeetha Pillai

Stepping into this world on 24th August, I am the younger daughter of my parents.  I did my schooling at Sacred Heart Convent High School in Hubli (Karnataka). In a perplexity of deciding my higher studies I finally consoled my mind to go with Civil Engineering. Although my ac .... more info


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