On August 23 Pakistani producers announced their new offers for local cold rolled coil (CRC) and hot dip galvanized (HDG) prices, decreasing them by 45,000/mt PKR/mt ($162/mt) since the last price revision which was announced in late December 2023. The main reason is weaker demand from end-users coupled with the continuous decline in raw materials and import hot rolled coil (HRC) offers even though some prices recovery has been seen in ex-China HRC offers this week.
More specifically, following a long pause of seven months, local prices for CRC and HDG have been declined by PKR 45,000/mt ($162/mt), compared to the previous offers announced on December 26, 2023. At the same time, the dollar-based quotations have decreased by around $157-158/mt since December.
Meanwhile, while import HRC prices have declined by around $100/mt since last local price revision in December 2023, this week import offers in Pakistan have increased by $10-20/mt over the past two weeks mainly due to the bullishness of Chinese suppliers amid futures prices recovery. More specifically, ex-China offers for SAE1006 HRC have been estimated at $510/mt CFR, up by $10/mt over the past two weeks, while ex-Japan and ex-Taiwan SAE1006 offers have been estimated at $520/mt CFR this week.
At the same time, while several offers for ex-China Q195 HRC trough traders have been still voiced in Pakistan at $475/mt CFR, the same as last week, new offers for Q235/SS400 HRC have been reported as high as $500/mt CFR from a number of Chinese suppliers.
All prices on Pakistani rupee basis include 18 percent VAT.
$1 = PKR 278.37
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 |
220,450-220,950 |
792-794 |
220,500-220,000 |
792-794 |
220,525-220,025 |
792-794 |
CRC, 0.5-0.9 mm |
212,950-213,050 |
765-765 |
212,700-259,000 |
765-765 |
212,725-213,025 |
765-765 |
CRC, 1-1.6 mm |
210,450-211,450 |
756-759 |
210,500-211,500 |
756-759 |
210,525-211,525 |
756-759 |
CRC 1.8-2.5 mm |
209,950 |
754 |
210,000 |
754 |
210,025 |
754 |
Thickness |
Producer |
|||
Aisha Steel Mills |
International Steels Limited |
|||
PKR/mt |
$/mt |
PKR/mt |
$/mt |
|
HDG, 0.25 mm |
239,450 |
860 |
239,500 |
860 |
HDG, 0.3-0.35 mm |
234,250-234,950 |
842-844 |
234,300-234,000 |
842-844 |
HDG, 0.4-0.6 mm |
225,550-232,450 |
810-835 |
225,600-232,500 |
810-835 |
HDG, 0.7-0.8 mm |
224,700 |
807 |
224,750 |
807 |
HDG, 1 mm |
220,800 |
793 |
220,850 |
793 |
HDG, 1.2-2 mm |
219,950 |
790 |
220,000 |
790 |
