The situation in Pakistan’s HRC import market has not changed much over the past weeks, with only Chinese suppliers presenting higher offers, while most foreign suppliers have been staying out of the market.
Accordingly, after a deal for 3,000/mt for ex-China SAE1006 HRC was signed at $590/mt CFR Karachi in the middle of last week, while new offers have increased to $600/mt CFR. Besides, offers for ex-China SS400 HRC have been voiced at a minimum of $590/mt CFR, up by $10/mt week on week.
At the same time, other foreign suppliers have been staying out of the Pakistani market over the past weeks, with only offers for ex-Japan SS400 HRC reported at around $600-610/mt CFR. “It has been so difficult to buy any material these past weeks, so we do not hear any firm offers either,” a Pakistani mill’s representative told SteelOrbis. “We hope to heard more offers this week from Japan, Taiwan, Vietnam and South Korea, but for now no news,” another source said.
