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Steel scrap value linked with London Metal Bulletin
Industry players welcome decision taken to avoid confusion at time of goods clearance
Bukhari pointed out that in previous ruling the price difference between re-rollable and re-meltable scrap was $100 per ton. PHOTO: REUTERS
KARACHI:
Customs authorities have linked the value of steel scrap with the London Metal Bulletin in a bid to avoid confusion at the time of goods clearance at ports.
The Customs Valuation, Karachi Directorate-General issued valuation ruling number 1,517 that linked the value of steel scrap with the London Metal Bulletin.
The notification said the decision was made to resolve the problems importers face at the clearance stage because the international market fluctuated according to demand and supply and prices of scrap were also published in the London Metal Bulletin for Pakistani importers. ....

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