Pakistani producers of cold rolled (CR) and hot dip galvanized (HDG) coils have announced a new hike in their offer prices for the domestic market in order to offset the negative impact from the continued depreciation of the Pakistani rupee against the US dollar.
Specifically, on November 8, local prices of CR and HDG coils have increased by PKR 3,000/mt (around $18/mt) compared to the previous offers.
Meanwhile, the major Asian suppliers of hot rolled coil (HRC) are cautiously testing the Pakistani market with new offers, for shipment of material in January. In particular, following the initial announcement of offers at $955/mt CFR, Taiwan-based suppliers were reported to be ready to book at $930/mt CFR by the end of last week. Meanwhile, ex-Japan SAE1004 HRC have been offered in Pakistan at $950/mt CFR, with Pakistani customers seeking to buy at not higher than $900/mt CFR. A deal for ex-South Korea HRC has been discussed in the market at $920/mt CFR in the beginning of the current week, though there has been no confirmation by the time of publication. “I do not see any demand at higher than $900/mt CFR. Taking into account that the global market continues to soften, even these levels are likely to be unworkable soon,” a Pakistan-based trader stated.
|
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 |
219,550-220,050 |
1,288-1,291 |
219,500-220,000 |
1,288-1,291 |
219,525-220,025 |
1,288-1,291 |
|
CRC, 0.5-0.9 mm |
211,750-213,050 |
1,209-1,216 |
211,700-213,000 |
1,242-1,250 |
211,725-213,025 |
1,242-1,250 |
|
CRC, 1-1.6 mm |
209,550-210,550 |
1,230-1,235 |
209,500-210,500 |
1,229-1,235 |
209,525-210,525 |
1,229-1,235 |
|
CRC 1.8-2.5 mm |
209,050 |
1,227 |
209,000 |
1,226 |
209,025 |
1,227 |
|
Thickness |
Producer |
|||
|
Aisha Steel Mills |
International Steels Limited |
|||
|
PKR/mt |
$/mt |
PKR/mt |
$/mt |
|
|
HDG, 0.25 mm |
236,550 |
1,388 |
236,500 |
1,388 |
|
HDG, 0.3-0.35 mm |
231,35-232,050 |
1,358-1,362 |
231,300-232,000 |
1,357-1,361 |
|
HDG, 0.4-0.6 mm |
222,650-229,550 |
1,306-1,347 |
222,600-229,500 |
1,306-1,347 |
|
HDG, 0.7-0.8 mm |
221,800 |
1,301 |
221,750 |
1,301 |
|
HDG, 1 mm |
217,900 |
1,279 |
217,850 |
1,278 |
|
HDG, 1.2-2 mm |
217,050 |
1,274 |
217,000 |
1,273 |
All prices on Pakistani rupee basis include 17 percent VAT.
$1 = PKR 170.423