In 2024, Pakistan experienced a modest recovery in annual scrap imports, though volumes remained relatively low, according to data from the Pakistan Bureau of Statistics.
The country imported 2.66 mln tons of scrap, marking a 6.43pct YoY increase, primarily due to a low base effect, as 2023 imports had fallen to a 10-year low amid economic challenges. However, compared to 2022, scrap imports in 2024 were still 19pct lower.
In December 2024, scrap imports totaled 201,165 tons, a decline of 17.15pct YoY.
The slight recovery in imports is attributed to economic stabilization following the implementation of fiscal reforms, including tighter monetary policies and inflation control measures, after the severe downturn in 2023.
Despite these improvements, construction activity remains sluggish, as reflected in the struggles of Pakistan’s long steel sector. Billet production during the first five months of FY25 dropped nearly 29pct YoY to 1.62 mln tons.
Click here for more info on Pakistan Steel Scrap Imports – 2022-2024
