Pakistan’s import HRC market has seen a slight upward adjustment over the past week week. At the same time, despite a modest increase in offers from China and other overseas suppliers, such as Japan, sentiment among Pakistani buyers has remained more negative than positive. Following the return from the Lunar New Year holiday, Chinese suppliers have adopted a cautious approach, while HRC futures prices in China have remained relatively stable.
More specifically, offers for ex-China Q195 3mm HRC have been voiced at $495-497/mt CFR, up by $10/mt over the past two weeks. At the same time, according to some sources, Chinese offers for Q235 HRC, 3-12 mm, have been voiced at around $500/mt CFR. Besides, offers for ex-China SAE1006 HRC have settled at around $500-510/mt CFR.
In the meantime, offers for ex-Japan SAE1006 HRC are at $510-520/mt CFR, up by $5/mt over the past two weeks, while no new offers have been voiced for SAE1006 HRC from suppliers from South Korea and Taiwan so far, with the last indicative offers reported at $505/mt CFR.
As of February 26, HRC futures at Shanghai Futures Exchange are standing at RMB 3,218/mt ($463/mt), remaining stable since February 12, while rising by 0.09 percent compared to the previous trading day, February 25.
