Amid crunch economic conditions in Pakistan, buyers of non-ferrous metals have witnessed import tightening by the government.
All-time-high interest rates of around 20% have led to shortages of non-ferrous metals within the country, resulting in further inflationary pressure on supplies. Pakistan remains active in the market for aluminium and copper grades, with demand for such scrap remaining stable owing to past shortages. However, high inflation levels have started to disturb market demand and this may see major drops in the future.
Global supply of metals to Pakistan appears stable and in line with current demand.
As the year has progressed, buyers are seeing more price stability than before as a result of the government’s drive towards greater tightness.