Business activity in the HRC import market in Pakistan has remained slow this week, with prices decreasing as compared to two weeks ago mainly given the recent decrease in ex-China HRC offers. Other suppliers like those from Japan and Taiwan have maintained their offers unchanged, with only occasional deals heard.
More specifically, offers for ex-China SS400 and Q235B HRC have been voiced at $550/mt CFR for July shipment, down by $5/mt over the past two weeks, but at the same level as reported three weeks ago. Offers for Q195 HRC have been heard at $545/mt CFR for June shipment, while prices for ex-China SAE1006 for July-August shipments have settled at $565/mt CFR, with most bids voiced at $560/mt CFR.
Pakistani customers’ price ideas have been decreasing given the declines in HRC futures prices in China. In particular, as of June 5, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,781/mt ($532.5/mt), decreasing by RMB 98/mt ($13.8/mt) or 2.5 percent since May 29, while down 0.34 percent compared to the previous trading day, June 4, according to SteelOrbis’ data.
Meanwhile, offers from suppliers from Japan and Taiwan have been estimated at $580/mt CFR, the same level as reported during previous weeks, with a few occasional deals reported at the abovementioned level.
