After five months of complete silence local mills in Pakistan have revised their prices for cold rolled (CRC) and hot dip galvanized (HDG) coils downwards. Accordingly, on July 10, the major Pakistan-based mills announced a PKR 25,000/mt ($92/mt) decrease in offer price of CRC and HDG coils, revising their offers for the first time since February. Meanwhile, the dollar-based quotations have fallen by almost $100/mt due to further fluctuations of the Pakistani rupee. According to market insiders, weak end-user demand and political instability in the country were behind the decision, while import HRC segment has been lacking clarity so far.
More specifically, while most customers’ price idea for imported SAE1006 HRC have been voiced at $575/mt CFR, the indicative prices for SAE1006 HRC from Japan, Taiwan and South Korea have been estimated at $600/mt CFR and above, same as last week. Meanwhile, offers for ex-China SS400 HRC have been heard at $560-570/mt CFR, up by $10/mt from the higher end of range over the past week, while ex-China offers for SAE1006 HRC have remained at $580-590/mt CFR.
|
Thickness |
Producer |
|||||
|
Aisha Steel Mills |
International Steels Limited |
Hadeed Pakistan |
||||
|
PKR/mt |
$/mt |
PKR/mt |
$/mt |
PKR/mt |
$/mt |
|
|
CRC, 0.25-0.35 mm |
273,550-274,050 |
1,003-1,005 |
273,500-274,000 |
1,003-1,005 |
273,525-274,025 |
1,003-1,005 |
|
CRC, 0.5-0.9 mm |
265,750-267,050 |
975-979 |
265,700-267,000 |
975-979 |
265,725-267,025 |
975-979 |
|
CRC, 1-1.6 mm |
263,550-264,550 |
966-970 |
263,500-264,500 |
966-970 |
263,525-264,525 |
966-970 |
|
CRC 1.8-2.5 mm |
263,050 |
964 |
263,000 |
964 |
263,025 |
964 |
|
Thickness |
Producer |
|||
|
Aisha Steel Mills |
International Steels Limited |
|||
|
PKR/mt |
$/mt |
PKR/mt |
$/mt |
|
|
HDG, 0.25 mm |
292,550 |
1,073 |
292,500 |
1,073 |
|
HDG, 0.3-0.35 mm |
279,350-288,050 |
1,024-1,056 |
279,300-288,000 |
1,024-1,056 |
|
HDG, 0.4-0.6 mm |
278,650-285,550 |
1,022-1,047 |
278,600-285,500 |
1,022-1,047 |
|
HDG, 0.7-0.8 mm |
277,800 |
1,019 |
277,750 |
1,019 |
|
HDG, 1 mm |
273,900 |
1,004 |
273,850 |
1,004 |
|
HDG, 1.2-2 mm |
273,050 |
1,001 |
273,000 |
1,001 |
All prices on Pakistani rupee basis include 18 percent VAT.
$1 = PKR 272.70