The ongoing uptrend in the global hot rolled coil (HRC) market has continued to prompt foreign suppliers to raise offers to Pakistan in particular. However, even with the announcement of higher prices, they are highly cautious as regards signing new orders, being quite confident of a further increase and, consequently, are aiming to achieve higher margins. Pakistani customers, on the contrary, would prefer to stock material now with the intention to lower costs. Trading activity has been dented as a consequence of this mismatch between the customers and suppliers.
Meanwhile, ex-Japan SAE10006 HRC indicative offers have been voiced at about $800/mt CFR this week, while about two weeks ago a cargo of 10,000 mt was booked at $725/mt CFR. Ex-China SAE1006 HRC offers are at $740/mt CFR, while SS400 HRC is priced at $725-730/mt CFR. Indicative offers of Taiwanese HRC are standing at $800/mt CFR, SteelOrbis has heard.