Lower-priced hot rolled coil (HRC) offers from a CIS-based producer in comparison to offers from more traditional suppliers (Japan, South Korea or Taiwan) have at once attracted the interest of Pakistani customers, both re-rollers and pipe makers.
Accordingly, SteelOrbis has recently learned of ex-Russia HRC bookings to Pakistan, reportedly for a total of around 40,000 mt within quite a wide price range. While some customers have booked material at $970/mt CFR, other buyers are said to have succeeded in obtaining $945-955/mt CFR. As SteelOrbis reported earlier, at the beginning of August Pakistani customers have booked ex-Japan SAE 1004 HRC at $1,045/mt CFR. Subsequently, buyers have opted to postpone any new HRC bookings, preferring to closely watch developments in the global steel market.