16
Jan
16:00
Steel association seeks Pakistan government LC delay intervention
The dollar shortage-induced delay in issuing letters of credit (LC) has worsened sentiment in the Pakistan steel industry, bringing raw materials imports to a halt and threatening steel production. Many steel mills are consequently on the verge of closure, says the Pakistan Association of Large Steel Producers (PALSP).
"The share of LCs in the steel sector amounts to $150 million/month and its share in the import bill of Pakistan is only 2.5%," PALSP say…
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Anonymous
Very good overview of the weekly steel market.
Anonymous