Assuming that import hot rolled coil (HRC) prices still have room to move down further, most Pakistani buyers have continued to play for time, delaying their new import bookings.
While most ex-Asia HRC (from South Korea, Taiwan and Japan) offers to Pakistan have been voiced at $850-860/mt CFR lately, down $80-90/mt within the past three weeks, some buyers have continued to put pressure on suppliers, voicing bids much lower than the levels the latter are seeking to get. In particular, some bids have been voiced at $825/mt CFR, with no agreement on price reached so far. Meanwhile, a cargo for 3,000 mt of ex-Taiwan HRC at $855/mt CFR Karachi is heard to have been booked, according to a few sources.
Ex-China SS400B HRC is available at $825-830/mt CFR, SteelOrbis has learned.