Pakistan’s import HRC market has been reflecting the situation in general in Asia with prices more or less stable, seeing cost support in China and with other Asian sellers not being aggressive, though most buyers are still hoping for discounts in June.
A deal for ex-China 3 mm Q195 HRC has been done to Pakistan at $515/mt CFR this week, which is stable compared to contracts for the same grade reported in the second half of May. But some lower prices have been heard for Q195 HRC at $508/mt CFR, but market sources said it could be non-VAT or for someone who is looking for June shipment. Chinese offers for 3-12 mm Q235 HRC have been at $520-526/mt CFR and in general market sources report limited demand. At the same time, offers for ex-China SAE1006 HRC have settled at $540-545/mt CFR for July shipment. This is down from the indicative level of $560/mt CFR before the holidays and almost in line with the level seen a month ago.
As for other suppliers, the tradable level for ex-Japan SAE1006 HRC has been estimated by a number of sources at $580/mt CFR. “I think some direct sales were done, but were very limited. They [sellers] are careful,” a trader said. This price for ex-Japan and ex-South Korea HRC has been on the table for the market in Pakistan over the past month.
The SteelOrbis reference price for import SAE1006 HRC in Pakistan has settled at $540-580/mt CFR.
