International scrap prices have increased by 22.2pc CYTD to currently stand at US$517 per metric ton compared to CY20 average of US$287 per metric ton as global demand recovers with economic activity picking up while supply remains restricted. Additional stimulus to scrap prices has been provided by strong rebar demand in China leading the country […]
steel
Steel industry asks FBR to fix minimum value of steel products
ISLAMABAD: Patron-in-Chief of Pakistan Association of Large Steel Producers Abbas Akberali on Wednesday met Chairman FBR Asim Ahmad. He apprised the Chairman FBR about urgent need for revision of minimum value of steel. Abbas outlined that this issue is not only hurting the ethically taxpayer local manufacturer but also denting the revenues of national exchequer. […]
US terminates Turkey’s preferential trade agreement, reduces tariffs on steel
The United States on Thursday terminated Turkey’s preferential trade treatment that allowed some exports to enter the country duty free, but it has halved its tariffs on imports of Turkish steel to 25%. The White House said it was appropriate to terminate Turkey’s eligibility to participate in the Generalized System of Preferences (GSP) program, based […]