While most foreign HRC suppliers have been staying out of the Pakistani market, evaluating offers for the next round of sales, suppliers from China have raised their offers, resulting in several deals.
Accordingly, Chinese suppliers have increased their offers for SS400 HRC to Pakistan to around $580-585/mt CFR this week, up by $25-30/mt week on week, with a deal for around 5,000/mt signed at $585/mt CFR at the end of the week. “We heard some occasional SS400 HRC offers still at $560/mt CFR, but most offers are much higher,” a Pakistani trader told SteelOrbis. Meanwhile, another small batch for around 500 mt of ex-China HRC 1-1.5 mm thickness is reported to have been sold at $620/mt CFR via a trader this week. Offers for ex-China HRC 1-1.5 mm thickness have been voiced at $615-620/mt CFR, while offers for ex-China Q235 HRC from stocks have been heard at $625-650/mt CNF Karachi.
Indicative offers for ex-Japan SAE1006 HRC have been heard at $580/mt CFR, the same as last week, while prices ex-Vietnam SAE1006 HRC have settled at $570/mt CFR, up by $10/mt week on week. “Chinese suppliers are offering a lot of HRC with 1-1.5 mm thickness, while others offering just normal SAE1006, which are obviously cheaper,” a market insider said.