Local mills in Pakistan have revised their prices for cold rolled (CRC) and hot dip galvanized (HDG) coils downwards since the last price revision announced back in August. Accordingly, on October 20, the major Pakistan-based mills announced a PKR 9,000/mt ($41/mt) decrease in offer prices of CR and HDG coils, following the decline in import hot rolled coil (HRC) prices, coupled with a slight appreciation of the national currency. However, weak end-user demand and the global price downtrend 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 and mainly from Pakistani pipe makers as most buyers are refraining from purchases in anticipation of further price decreases. Accordingly, at the beginning of the week, several deals for ex-China SS400 HRC were reported at $563-565/mt CFR, down by $7-15/mt over the past week. Meanwhile, by the end of the week, new deals for ex-China SS400 HRC have been signed at $547/mt CFR. Offers for ex-China SAE1006 HRC have been heard at around $560/mt CFR, down by $30/mt over the past week.
In the meantime, suppliers from Japan and Taiwan have decreased their offers for SAE1006 HRC to around $560-565/mt CFR, down by $5-10/mt since the beginning of the week and compared to $590-600/mt CFR last week, though, according to market insiders, no deals have been reported so far, but negotiations are underway.
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 |
230,550-231,050 |
1,045-1,048 |
230,500-231,000 |
1,045-1,048 |
230,525-231,025 |
1,045-1,048 |
CRC, 0.5-0.9 mm |
222,750-224,050 |
1,010-1,016 |
222,700-224,000 |
1,010-1,016 |
222,725-224,025 |
1,010-1,016 |
CRC, 1-1.6 mm |
220,550-221,550 |
1,000-1,005 |
238,500-239,500 |
1,000-1,005 |
220,525-221,525 |
1,000-1,005 |
CRC 1.8-2.5 mm |
220,050 |
998 |
220,000 |
1,110 |
220,025 |
998 |
Thickness |
Producer |
|||
Aisha Steel Mills |
International Steels Limited |
|||
PKR/mt |
$/mt |
PKR/mt |
$/mt |
|
HDG, 0.25 mm |
247,550 |
1,122 |
247,500 |
1,122 |
HDG, 0.3-0.35 mm |
242,350-243,050 |
1,099-1,102 |
242,300-243,000 |
1,099-1,102 |
HDG, 0.4-0.6 mm |
233,650-240,550 |
1,059-1,091 |
233,600-240,500 |
1,059-1,091 |
HDG, 0.7-0.8 mm |
232,800 |
1,056 |
232,750 |
1,056 |
HDG, 1 mm |
228,900 |
1,038 |
228,850 |
1,038 |
HDG, 1.2-2 mm |
228,050 |
1,034 |
228,000 |
1,034 |
All prices on Pakistani rupee basis include 17 VAT.
$1 = PKR 220.55
