Pakistan’s import HRC market has seen a slight upward adjustment in ex-China prices this week, following the recovery in HRC futures prices in China. However, offers from other suppliers have remained largely stable or have even showed a slight downward bias compared to offers a few weeks ago.
More specifically, offers for ex-China Q195 HRC have been voiced at $463/mt CFR for January shipment, up by $5-6/mt CFR over the past two weeks. Besides, offers for ex-China Q235 HRC have been estimated at $472/mt CFR compared to $462-465/mt CFR two weeks ago. Meanwhile, ex-China SAE1006 HRC offers have settled at around $485/mt CFR, up by $5/mt week on week.
In the meantime, offers for ex-Japan SAE1006 HRC have been voiced at $490-500/mt CFR, down by $10/mt on the lower end of the range week on week. At the same time, a deal for 30,000 mt of ex-Taiwan HRC has been reported at $488/mt CFR Pakistan this week. Offers for ex-South Korea SAE1006 HRC have been estimated at $485-490/mt CFR, compared to $480-482/mt CFR last week, but down by $10-15/mt over the past two weeks.
According to sources, market sentiments have improved given the recent increase in the HRC futures market in China. As of November 26, HRC futures at Shanghai Futures Exchange are standing at RMB 3,304/mt ($465/mt), increasing by RMB 27/mt ($4/mt) since November 19, while declining by 0.03 percent compared to the previous trading day, November 25, according to SteelOrbis’ data.
