The solid increase in offers and the overall positive mood in the global market have kept Pakistani consumers of hot rolled coil (HRC) active in negotiations with foreign suppliers and in purchases in particular.
According to sources, Pakistan’s re-rollers and pipe mills have recently booked ex-South Korean HRC totaling around 20,000 mt at $505/mt CFR, for September shipment. SteelOrbis has been informed of one more booking of HRC from Japan at slightly below $500/mt CFR LO, for mid-October shipment.
In addition, the demand for HRC is supported by the sustainable recovery of end-user sectors in Pakistan, which are said to be reviving at an even quicker pace after the end of the Feast of Sacrifice holiday.