Trading activity in Pakistan’s hot rolled coil (HRC) market has remained subdued mainly amid governmental precautions to curb the spread of the coronavirus. Demand is expected to improve once the lockdown is eased and local auto manufactures are opened.
According to sources, ex-China offers for boron-added SS 400 HRC have been mostly voiced at $420-425/mt CFR. In the meantime, suppliers from Taiwan, South Korea and Japan are aiming to sell SAE 1006 HRC and are more aggressive with offers at around $410/mt CFR, SteelOrbis understands. “Long steel demand is high these days as the government opened this sector on April, 15. We expect the flats market will behave in a similar pattern once the auto sector starts operations tentatively from May 10,” one market insider said.