Following slight 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 and domestic price increases in China. Besides, offers from other Asian suppliers have been reported at slightly higher levels as well, which has resulted in more negotiations and deals in Pakistan.
Accordingly, several deals for ex-China SS400 HRC have been reported at $570/mt CFR Pakistan this week, versus deal prices at $563-565/mt CFR two weeks ago and offers at $555-560/mt CFR last week. Meanwhile, most ex-China SS400 HRC offers have been voiced in Pakistan at $570-575/mt CFR for late October-early November shipments. At the same time, in the SAE1006 HRC segment, trade activity has remained limited with most offers for ex-China materials standing at $580-590/mt CFR, the same as two weeks ago, but up by $5-10/mt week on week.
Meanwhile, this week suppliers from Japan have been offering their SAE1006 HRC at $610/mt CFR, up by $10/mt over the past two weeks. However, according to sources, at least two deals from two major Japanese suppliers for 20,000 mt and 30,000 mt, respectively, have been reported at around $605/mt CFR for November and October shipments, respectively.
Offers for ex-Taiwan SAE1006 HRC have been heard at $610/mt CFR, up by $10/mt over the past two weeks. “Taiwan’s prices depend on quantity, $610/mt CFR for big lots, otherwise they aim higher,” a market insider told SteelOrbis.