Ferrous scrap import volumes continue to collapse in India, Pakistan

Steelmakers in India and Pakistan have severely cut their intake of imported ferrous scrap over the last week, depriving suppliers of options for where to place their containers, sources told Fastmarkets on Friday September 29.

Mills in the South Asian countries embarked on a massive scrap-buying spree through late August and into September, but as some of these volumes start arriving at ports, further buying...