Following the most recent booking of ex-Japan HRC at $800/mt CFR Karachi a week ago, most hot rolled coil (HRC) suppliers have taken their time to figure out their new offers to this destination. Though until the current week the new levels have not been settled, it has been clear that the suppliers would aim to get higher numbers in new deals. “Price ideas are coming in the market not below $830/mt CFR, but no deals done as of now,” a Pakistan-based trader stated at the beginning of the current week.
However, already by the middle of the current week, SteelOrbis has learned of a fresh purchase of 20,000 mt of ex-Taiwan SAE1006 HRC via an international trader at $820/mt CFR Karachi, for May shipment. The initial offers from the Taiwanese mill were voiced at $840/mt CFR Karachi.