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Pakistan’s imports of black scrap steel rose 22% year-on-year in the first quarter, reaching 890,000 tonnes.

Category: Blog

Time:2026-05-21

In the first quarter, Pakistan’s imports of ferrous scrap increased by 22% year on year to 890,000 tonnes. In Q1 2026, the country’s ferrous scrap imports rose 22% from 730,000 tonnes in the same period of 2025 to 890,000 tonnes. However, this figure represents a sharp 20% decline from the 1.11 million tonnes recorded in the fourth quarter of 2025, underscoring the ongoing weakness of Pakistan’s steel sector amid mounting structural and economic pressures. In March 2026 alone, imports fell 28% month on month to 210,000 tonnes. During the first quarter of 2026, crude steel production declined 17% year on year to 780,000 tonnes and also slipped 9% quarter on quarter, reflecting persistent margin pressures across the industry. Despite an installed steelmaking capacity approaching 9 million tonnes per year, actual annual output remains constrained at around 3.8 million tonnes, with several mills having shut down and others operating at utilization rates of only 30–50%.

　　In the first quarter of 2026, Pakistan’s imports of black scrap steel rose 22% year on year to 890,000 tonnes, compared with 730,000 tonnes in the same period of 2025. However, imports fell sharply by 20% from the fourth quarter of 2025, when they stood at 1.11 million tonnes, underscoring the continued weakness of Pakistan’s steel sector amid mounting structural and economic pressures. In March 2026 alone, imports declined 28% month on month to 210,000 tonnes.

　　In the first quarter of 2026, crude steel production fell 17% year-on-year to 780,000 tonnes and declined 9% quarter-on-quarter, reflecting ongoing profit pressures across the industry. Despite an installed annual steelmaking capacity approaching 9 million tonnes, actual annual output remains constrained at around 3.8 million tonnes; several steel mills have shut down, while others are operating at utilization rates of only 30–50%.

　　Despite sluggish procurement activity in Pakistan, import prices for shredded scrap remained relatively firm in the first quarter. The average CFR price for UK-originated shredded scrap in the first quarter of 2026 was approximately USD 386 per tonne, compared with USD 358 per tonne in the same period last year and roughly unchanged from the fourth quarter of 2025.

　　Market participants note that Pakistan’s imported scrap steel market continues to face pressures from weak steel demand, soaring energy costs, heavy tax burdens, rising freight rates, and a tightening monetary environment. Declining industrial activity and high electricity prices have significantly dampened steelmakers’ appetite for imported scrap. Meanwhile, elevated freight rates and war‑related disruptions to shipping have further complicated scrap imports in the first quarter. According to reports, in March 2026, route diversions prompted by the Middle East conflict and a shortage of vessels drove container freight rates from the UK and Europe up by nearly $300 per container, while the effective landed cost of imported crushed scrap is estimated to have increased by $15–$25 per tonne.

　　In the second quarter of 2026, under sustained pressure from weak downstream steel demand, high freight rates, exchange-rate volatility, and elevated financing costs, Pakistan’s imported ferrous scrap market is expected to remain cautious. Market participants anticipate that import volumes will broadly stay within the 800,000–900,000‑ton range for the quarter. Should freight conditions ease somewhat, prices for shredded scrap could stabilize around USD 385–400 per ton CFR. Moreover, if the State Bank of Pakistan keeps interest rates at elevated levels following rate hikes, borrowing costs could further constrain scrap‑purchasing activity and intensify profit pressures on steelmakers.

Keywords: Pakistan’s imports of black scrap steel rose 22% year-on-year in the first quarter, reaching 890,000 tonnes.

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