Import HRC deal prices in Pakistan rise further

Tuesday, 03 November 2020 16:33:23 (GMT+3)   |   Istanbul
       

Pakistani hot rolled coil (HRC) buyers have failed to get any discounts in negotiations with foreign suppliers, but this has not stopped them from signing new contracts.


Accordingly, Pakistani re-rollers recently booked a total of 50,000 mt of ex-Japan SAE1006 HRC at the initially announced levels of $555-560/mt CFR Karachi, LC payment. “Pakistan's steel market is good, picking up the pace. Hence, if you need feedstock, there is no other way but to accept prices,” a Pakistan-based source commented. About one week ago, a 10,000 mt cargo of ex-South Korea SAE1006 HRC was booked at $545/mt CFR Karachi, LC payment, as SteelOrbis reported earlier. Meanwhile, ex-China SS400 HRC is currently available at $535-540/mt CFR Karachi, with a few deals done at the lower end of the range, according to market sources.


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