Following drops seen in HRC import prices in Pakistan during previous weeks against the backdrop of price declines in China, this week has brought some positive sentiment given the futures price increases in China. Thus, several deals for ex-China materials are reported to have been signed at higher levels. However, while offers from other Asian suppliers have been reported at mainly the same levels as compared to previous weeks or slightly higher, a deal for ex-Japan HRC has been done with a slight discount this week.
Accordingly, after ex-China SAE1006 HRC offers were reported though traders at $570/mt CFR two weeks ago, a deal for 10,000 mt was done at $588/mt CFR Pakistan at the end of last week. Meanwhile, new offers from most Chinese SAE1006 HRC suppliers have been voiced at $595/mt CFR, up by $5-15/mt over the past two weeks, “with some negotiations underway”, according to sources.
Offers for ex-China SS400 HRC have been reported at $566/mt CFR for August shipment this week, versus $555-560/mt CFR two weeks ago, while ex-China Q195 HRC has been offered at $563/mt CFR for prompt shipment through traders this week.
In the meantime, another deal for ex-Japan SAE1006 HRC has been reported at $595/mt CFR for mid-September shipment, as compared to offers at $600/mt CFR. Besides, offers form Taiwan have been voiced at $610/mt CFR, up by $10/mt over the past two weeks, while no offers have been heard from South Korean suppliers in Pakistan so far.
