Pakistan’s Iron and Steel Scrap Imports Hit All-Time High in October

Pakistan’s import of iron and steel scrap surged to a record 381,991 tonnes in October, signaling a clear rise in construction and steel production activity across the country.  This is the highest monthly volume ever recorded and surpasses the previous peak of 366,610 tonnes in September, according to official data. Industry officials say the spike reflects renewed work on stalled high-rise and housing projects, along with growing demand for steel bars despite falling global scrap prices. Imports of iron and steel scrap reached 1.299 million tonnes valued at 680 million dollars during the first four months of FY26.  This is up from 819,650 tonnes worth 664 million dollars in the same period last year, marking a 58.5 percent jump in quantity and a 2.4 percent rise in value. The per tonne import price, however, has dropped sharply to 523 dollars from 810 dollars a year earlier. The secretary general of the Pakistan Association of Large Steel Producers said the recent surge in steel demand is genuine and primarily fueled by ongoing construction activity, not by lower international scrap prices. He noted that the government’s efforts to revive the construction sector, including the anticipated launch of the Apna Ghar Apna Ashiana low-cost housing scheme, are likely playing a significant role in boosting demand. Builders say the drop in global scrap rates has lowered domestic rebar prices.  Against the government’s assessed minimum value of Rs. 242,000 per tonne for tax purposes, market prices have fallen to about Rs. 220,000 per tonne, providing some relief to contractors.