Pakistan’s import HRC market has remained relative stable over the past two weeks, with most buyers trying to push for additional discounts in new deals.
More specifically, offers for ex-China 3 mm Q195 HRC for mainly June shipment have been voiced at $505-510/mt CFR, mostly the same as two weeks ago. Besides, several deals are reported to have been done at $505/mt CFR, while a number of market sources have also reported ex-China non-VAT deals at $500/mt CFR. At the same time, according to some sources, Chinese offers for 3-12 mm Q235 HRC have been voiced at around $515/mt CFR, up by $3/mt over the past week, though a few deals have been signed at $512/mt CFR, according to sources. Besides, offers for ex-China SAE1006 HRC have settled at around $535/mt CFR, the same as two weeks ago.
In the meantime, although offers for ex-Japan SAE1006 HRC are at $550/mt CFR for June shipment, the same as two weeks ago, a market insider commented, “Japanese deals are generally under negotiation at the $530/mt CFR level”.
Indicative offers for SAE1006 HRC from suppliers from South Korea have remained at around $550/mt CFR.
As of April 15, HRC futures at Shanghai Futures Exchange are standing at RMB 3,290/mt ($480/mt), increasing by RMB 8/mt ($1.17/mt) since April 8, while up 0.34 percent compared to the previous trading day, April 14.
