Local mills in Pakistan have revised their prices for cold rolled (CRC) and hot dip galvanized (HDG) coils downwards for the first time this year. Accordingly, on August 17, the major Pakistan-based mills announced a PKR 12,000/mt ($56/mt) decrease in offer prices of CR and HDG coils, following the decline in import hot rolled coil (HRC) prices coupled with the appreciation of the national currency. However, weak end-user demand and political instability in the country were also behind the decision.
Meanwhile, foreign HRC suppliers have continued to revise their offers downwards as well in order to obtain orders. However, only a few deals have been reported recently as most buyers are refraining from purchases due to severe floods in the country and problems with opening letters of credit. Accordingly, several deals for ex-China SAE1006 HRC have been reported at $630-635/mt CFR, down by $30/mt over the past two weeks. Meanwhile, ex-China offers for SAE1006 HRC have settled at $640/mt CFR, compared to $665-675/mt CFR in early August. Offers for ex-China SS400 HRC have been heard at $630/mt CFR, down by $20/mt over the past two weeks.
In the meantime, suppliers from Japan have decreased their offers to around $640/mt CFR, down by $10/mt over the past two weeks. Offers from South Korea and Taiwan have settled at around $630/mt CFR, compared to $660-670/mt CFR two weeks ago. Besides, talk about ex-Turkey HRC offers at $600/mt CFR Qasim was circulating in the market, though this information was neither confirmed by sellers nor by buyers by the time of publication.
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 |
1,159-1,161 |
248,500-249,000 |
1,159-1,161 |
248,525-249,025 |
1,159-1,161 |
CRC, 0.5-0.9 mm |
240,750-242,050 |
1,123-1,129 |
240,700-242,000 |
1,123-1,129 |
240,725-242,025 |
1,123-1,129 |
CRC, 1-1.6 mm |
238,550-239,550 |
1,112-1,117 |
238,500-239,500 |
1,112-1,117 |
238,525-239,525 |
1,112-1,117 |
CRC 1.8-2.5 mm |
238,050 |
1,110 |
238,000 |
1,110 |
238,025 |
1,110 |
Thickness |
Producer |
|||
Aisha Steel Mills |
International Steels Limited |
|||
PKR/mt |
$/mt |
PKR/mt |
$/mt |
|
HDG, 0.25 mm |
256,550 |
1,196 |
256,500 |
1,196 |
HDG, 0.3-0.35 mm |
251,350-252,050 |
1,172-1,175 |
251,300-252,000 |
1,172-1,175 |
HDG, 0.4-0.6 mm |
242,650-249,550 |
1,131-1,164 |
242,600-249,500 |
1,131-1,164 |
HDG, 0.7-0.8 mm |
241,800 |
1,128 |
241,750 |
1,128 |
HDG, 1 mm |
237,900 |
1,109 |
237,850 |
1,109 |
HDG, 1.2-2 mm |
237,050 |
1,105 |
237,000 |
1,105 |
All prices on Pakistani rupee basis include 17 VAT.
$1 = PKR 214.46
