The domestic market for non-ferrous and ferrous metals has remained generally strong this summer compared to the same period in previous years. Simultaneously, the country’s COVID situation is also improving with a rapid vaccination drive under way.
China is playing a key role in the commodity markets, particularly for metals. By auctioning 100,000 tonnes of copper, aluminium and zinc from state-owned reserves, it has been successful in bringing down metals prices, and yet demand remains strong.
The biggest challenge faced by the Pakistani market at present is debt recovery against sales to mills. Recyclers are struggling to pay their creditors in a timely manner given such high prices. The fear is that, in the long run, this will damage smaller recycling operations when it comes to the viability of doing business.
A.B.M. Corporation (PAK), Board Member of the BIR Non-Ferrous Metals Division