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Pakistan's scrap and steel imports increased in May

In May, Pakistan witnessed a growth in both scrap and steel imports compared to the previous month and the same period a year ago, according to data released by the Pakistan Federal Bureau of Statistics (PFBS).

Pakistan's scrap and steel imports increased in May

The import of scrap in May reached approximately 126,200 tons, marking a significant increase of 45% compared to the previous month. However, it experienced a decrease of 38% when compared to the same month last year.

Regarding steel products, Pakistan imported approximately 177,000 tons, showing a substantial m-o-m increase of 52%. However, when compared to the same period last year, there was a decrease of 34%.

In terms of value, the total value of scrap imports in May amounted to approximately US$68.3 million, representing a m-o-m increase of 34%. However, there was a significant year-on-year drop of 42%. The import value of steel products in Pakistan stood at US$141.2 million, with a m-o-m increase of 53%, but a y-o-y decrease of 40%.

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