Although import hot rolled coil (HRC) prices have increased recently and a more optimistic mood persists among all main exporters, most Pakistani buyers have continued to show minimal interest in new bookings considering the very slow recovery of demand from the heavy floods in the country. Thus, deals have remained occasional. SteelOrbis has learned that, at the end of last week, a deal for 15,000/mt of ex-Taiwan SAE1006 HRC was reported to have been done at $625/mt CFR for October shipment.
In the meantime, import HRC offers have inched up in Pakistan this week. New offers for ex-Taiwan SAE1006 HRC have been heard at $640/mt CFR, compared to deal prices at $625/mt CFR last week and up by $10/mt over the past two weeks. Offers for ex-Japan HRC have increased to $650/mt CFR, up by $10-20/mt over the past two weeks. However, according to market insiders, no buyers have shown interest in signing new deals. Furthermore, suppliers from China have set their offers for HRC at $610-620/mt CFR, compared to $600/mt CFR last week.
Meanwhile, the disruptions caused in South Korea by the recent typhoon have led to the withdrawal of export offers from the country.
