Pakistan’s scrap imports were down 3.7 percent in July from June

Published on August 15, 2024

• Import Volume: In July 2024, Pakistan imported 210,786 metric tons of scrap. This represents a 15.6% increase compared to the same month last year. However, it declined by 3.7% in June 2024.
• Monetary Value: The total value of these scrap imports in July was $95.81 million, 9.0% higher than the previous year but 2.6% lower than June 2024.

Iron and Steel Imports

• Import Volume: Pakistan imported 240,779 metric tons of iron and steel in July 2024. This reflects a 19.5% increase from the previous month but an 8.6% decrease compared to last year.
• Monetary Value: The value of iron and steel imports in July amounted to $163.07 million. While this represents a 10.2% monthly increase, it declined by 6.8% annually.

Key Takeaways

1. Scrap Demand: Despite the monthly decline, the surge in scrap imports indicates continued demand for raw materials in Pakistan’s industrial sector. This trend aligns with global efforts toward sustainable practices and recycling.
2. Infrastructure Growth: The rise in iron and steel imports may be attributed to increased construction and infrastructure projects. Notably, iron and steel scrap imports have grown significantly, reaching $1.556 billion in the first 11 months of FY24.

In summary, Pakistan’s scrap iron and steel trade remains dynamic, influenced by economic factors and global market dynamics. Policymakers and businesses should closely monitor these trends to make informed decisions.