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GMS Market Commentary on Shipbreaking in Pakistan in Week06 - STILL STUCK!

Steel News - Published on Tue, 12 Feb 2019

Image Source: SteelGuru
Pakistan remains marooned at the foot of the sub-continent pricing table for another week, amidst another bleak week of sales and (in)activity. Port reports have essentially been empty, following a disastrous decline in the Pakistani Rupee, a halt to high rise building projects (since resumed), and several mini-budgets instigated by the new government in Pakistan at the end of last year, one of which did result in negatively impacting the domestic steel / ship recycling sectors.

However, with international steel prices starting to rise once again, there is some hope that local levels may also follow suit, bringing Gadani back in the game after a long period on the sidelines.

Source :

Posted By : Rabi Wangkhem on Tue, 12 Feb 2019
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