Deal HRC prices in Pakistan drop further as expected 

A further reduction in import hot rolled coil (HRC) prices in Pakistan was not long in coming. SteelOrbis has learned of a fresh booking of 15,000 mt of ex-Taiwan SAE1006 HRC at $750/mt CFR Karachi, for March shipment, $20/mt lower compared to the most recent deal at the beginning of this week. The material was booked from a trader’s position. After the information reached the market, it was said that a Pakistani mill booked ex-Japan HRC. However, by the time of publication any possibility of purchasing Japanese HRC at such a low level was denied. “Japanese mills are already booked for March shipment and at this stage are not offering April,” a distributor commented concerning the situation. “The latest offers which we received from Japan were not lower than $800/mt CFR,” the representative of one major Pakistani steel mill stated.