According to the data from the Pakistan Federal Bureau of Statistics (PFBS), Pakistan imported around 142,800 tons of scrap in February this year, decreasing by 36.6% compared to the previous month and by 59.3% from the same month a year ago.

During the period, the imports of steel products amounted to approximately 165,300 tons, down by 46.7% month on month and by 35.1% year on year.

The decrease in Pakistan’s imports of scrap and steel products was mainly due to the dollar shortage causing delays in issuing letters of credit, declining economic confidence, and slowed steel demand.