Pakistani producers of cold rolled (CRC) and hot dip galvanized (HDG) coils have revised their offer prices upwards for the third time in January given the continuous devaluation of the national currency against the US dollar and the further uptrend of raw material and steel prices globally. However, in the import HRC segment business activity has been close to zero as Chinese suppliers are on holiday, while others have been refraining from new offers to Pakistan due to the issue regarding letters of credit (LCs).
More specifically, following a PKR 10,000/mt ($43/mt) increase announced last week, on January 25 local prices for CRC and HDG have increased again by PKR 10,000/mt ($43/mt), compared to the previous offers.
Meanwhile, according to market insiders, no new import HRC prices have been heard in Pakistan this week. In particular, the latest offers for SAE1006 HRC from the main suppliers, like those from China and Taiwan, were reported at around $675/mt CFR and above last week, though the suppliers have not been offering this week due to the long holiday. In the meantime, other HRC suppliers have been delaying the announcement of fresh offers to Pakistan as “the opening of new LCs has not started yet, so suppliers see no reason to offer,” according to market insiders. “The continuous US dollar shortage and unviable economic conditions affect trade, so no imports are expected in the short run,” a Pakistani trader told SteelOrbis.
|
Thickness |
Producer |
|||||
|
Aisha Steel Mills |
International Steels Limited |
Hadeed Pakistan |
||||
|
PKR/mt |
$/mt |
PKR/mt |
$/mt |
PKR/mt |
$/mt |
|
|
CRC, 0.25-0.35 mm |
248,550-249,050 |
1,076-1,079 |
248,500-249,000 |
1,076-1,079 |
248,525-249,025 |
1,076-1,079 |
|
CRC, 0.5-0.9 mm |
240,750-242,050 |
1,043-1,048 |
240,700-242,000 |
1,043-1,048 |
240,725-242,025 |
1,043-1,048 |
|
CRC, 1-1.6 mm |
238,550-239,550 |
1,033-1,037 |
238,500-239,500 |
1,033-1,037 |
238,525-239,525 |
1,033-1,037 |
|
CRC 1.8-2.5 mm |
238,050 |
1,031 |
238,000 |
1,031 |
238,025 |
1,031 |
|
Thickness |
Producer |
|||
|
Aisha Steel Mills |
International Steels Limited |
|||
|
PKR/mt |
$/mt |
PKR/mt |
$/mt |
|
|
HDG, 0.25 mm |
267,550 |
1,159 |
267,500 |
1,159 |
|
HDG, 0.3-0.35 mm |
262,350-263,050 |
1,136-1,139 |
262,300-263,000 |
1,136-1,139 |
|
HDG, 0.4-0.6 mm |
253,650-260,550 |
1,098-1,128 |
253,600-260,500 |
1,098-1,128 |
|
HDG, 0.7-0.8 mm |
252,800 |
1,095 |
252,750 |
1,095 |
|
HDG, 1 mm |
248,900 |
1,078 |
248,850 |
1,078 |
|
HDG, 1.2-2 mm |
248,050 |
1,074 |
248,000 |
1,074 |
All prices on Pakistani rupee basis include 17 percent VAT.
$1 = PKR 230.92