Following the ongoing rise in feedstock offers, on April 13 Pakistani producers of cold rolled (CR) and hot dip galvanized (HDG) coils issued a new round of price increases.
Accordingly, local prices of CR and HDG coils have increased by PKR 3,000/mt ($20/mt) compared to the previous offers voiced at the beginning of April. The dollar-based quotations have risen by $28-29/mt due to the devaluation of the Pakistani rupee. Despite a firm demand from end-users, high prices have made customers to review their consumption structure. “Dealers are hoarding material, however due to the current end-users’ preferences they are moving to cheaper grades,” the representative of Pakistani flats mill told.
Meanwhile, the most recent ex-Taiwan HRC offers to Pakistan have reached $990/mt CFR Karachi, up at least $90/mt compared to those two weeks ago. “As we are not in a rush to make any purchases for September consumption, we have refused to purchase at this price,” a key Pakistani re-roller stated. Japan-based suppliers have started to test the Pakistani market with new HRC offers at over $1,000/mt CFR, with no interest from buyers as for now.
|
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 |
173,550-174,050 |
1,141-1,144 |
173,500-174,000 |
1,140-1,144 |
173,525-174,025 |
1,140-1,144 |
|
CRC, 0.5-0.9 mm |
165,750-167,050 |
1,089-1,098 |
165,700-167,000 |
1,089-1,098 |
165,725-167,025 |
1,089-1,098 |
|
CRC, 1-1.6 mm |
163,550-164,550 |
1,075-1,081 |
163,500-164,500 |
1,075-1,081 |
163,525-164,525 |
1,075-1,081 |
|
CRC 1.8-2.5 mm |
163,050 |
1,072 |
163,000 |
1,071 |
163,025 |
1,071 |
|
Thickness |
Producer |
|||
|
Aisha Steel Mills |
International Steels Limited |
|||
|
PKR/mt |
$/mt |
PKR/mt |
$/mt |
|
|
HDG, 0.25 mm |
188,550 |
1,239 |
188,500 |
1,239 |
|
HDG, 0.3-0.35 mm |
183,350-184,050 |
1,205-1,210 |
183,300-184,000 |
1,205-1,209 |
|
HDG, 0.4-0.6 mm |
176,650-181,550 |
1,161-1,193 |
176,600-181,500 |
1,161-1,193 |
|
HDG, 0.7-0.8 mm |
175,800 |
1,155 |
175,750 |
1,155 |
|
HDG, 1 mm |
171,900 |
1,130 |
171,850 |
1,129 |
|
HDG, 1.2-2 mm |
171,050 |
1,124 |
171,000 |
1,124 |
All prices on Pakistani rupee basis include 17 percent VAT.
$1 = PKR 152.160