According to the data of the Federal Bureau of Statistics (PFBS), different trends were observed in the country’s scrap and steel product imports in October. Scrap imports increased by 16% m-o-m to reach approximately 228,000 tons, while they recorded a 5% y-o-y decline. Scrap imports in September were 212,000 tons, representing a 20% increase compared to August and a 5% y-o-y growth.
Steel product imports, on the other hand, showed a strong performance, reaching 328,000 tons in October. This represents a 23% increase on a monthly and annual basis. In September, steel product imports were recorded as 277,000 tons, which was a 37% increase compared to the previous month and a 63% increase on an annual basis.
Looking at the monetary value of imports, scrap imports were recorded as 102 million USD in October. This figure represents a 7% increase compared to 95 million USD in September, but a 6% decrease compared to the same month last year. Steel product imports rose to 208 million USD in October, showing a 13% increase compared to the previous month and a 14% increase on an annual basis. The value of steel product imports in September was recorded as 185 million USD, indicating a 25% increase on a monthly basis and a 51% increase on an annual basis.
This data indicates a steady recovery in Pakistan’s steel product imports, while the scrap import volumes are performing poorly on an annual basis.
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