Having seen the ongoing acceleration of the uptrend in global hot rolled coil (HRC) prices, Pakistani buyers have continued with some degree of caution to accept higher prices in new deals.
Accordingly, this week one Pakistani re-roller has booked 5,000 mt of ex-Taiwan HRC at $885/mt CFR Karachi, while a week ago the workable price was hardly higher than $835/mt CFR Karachi. “Prices are too high. There were no purchases from us as we are covered until July, at lower prices,” a buyer stated before the mentioned deal at the beginning of this week.
After a new price level gained acceptance in Pakistan, another Taiwanese supplier at once increased its HRC offers to $900/mt CFR Karachi, SteelOrbis has learned.