Import HRC prices in Pakistan have shown mixed trends over the past week, with a further downturn for import coils from Japan and Taiwan and increases in ex-China HRC offers. Besides, a deal for ex-China material has been signed at a higher level this week.
Accordingly, a position cargo for ex-China SS400 HRC has been sold at $770/mt CFR Pakistan, up by $10/mt over the past week. In addition, offers for ex-China SAE1006 HRC have increased by $10-20/mt week on week to $790-800/mt CFR. This increase was mainly attributed to the recovery of local and futures prices in China on the back of the easing pandemic situation in Shanghai. Besides, market players are more optimistic towards the prospects for the future market given the improved market outlook following the recent announcement of stimulus measures in China.
In the meantime, suppliers from Taiwan have decreased their offers for SAE1006 HRC to $820-830/mt CFR, down $10/mt over the past week. According to market insiders, a deal for ex-Taiwan materials has been signed at $820/mt CFR, though SteelOrbis has not confirmed this information by the time of publication. Furthermore, the most recent offers from Japan have been heard at $830-840/mt CFR, down by $10/mt week on week.
