Pakistan’s import HRC market has posted another sharp hike over the past week, though buying interest has remained muted.
More specifically, offers for ex-China 3 mm Q195 HRC for late April shipment have been voiced at $505-506/mt CFR, versus $501-506/mt CFR last week. At the same time, according to some sources, Chinese offers for 3-12 mm Q235 HRC have been voiced at around $512/mt CFR, up by $1/mt over the past week. Besides, offers for ex-China SAE1006 HRC have settled at around $535-540/mt CFR, up by $15/mt since last week.
In the meantime, offers for ex-Japan SAE1006 HRC are at $550/mt CFR for June shipment, versus $530/mt CFR last week. “This offer is an initial one and most customers will try to negotiate and push for discounts,” a Pakistani trader told SteelOrbis. Besides, offers for SAE1006 HRC from suppliers from South Korea have been reported at $550/mt CFR, up by $25/mt since last week.
As of March 25, HRC futures at Shanghai Futures Exchange are standing at RMB 3,313/mt ($480/mt), moving sideways since March 18, while declining by 0.24 percent compared to the previous trading day, March 24.