Steel products imports to the country in 2022 decreased by 29% compared to the previous year and amounted to 2.57 million tons. This is the lowest figure since 2014.
According to the year-end results, Pakistan's scrap metal imports also decreased by 29%. Metal imports, which were at the level of 4,15 million tons in 2021, decreased to 2,95 million tons in 2022. In addition, in December 2022, imports decreased by 55% compared to December 2021 to 191.7 thousand tons.
Since April 2022, Pakistan has been in a serious political and economic crisis. Due to financial problems with local producers, Pakistani banks refuse to open letters of credit. This was one of the reasons for the decline in imports of steel products and scrap metal.
Comments
No comment yet.